Ideally, you are checking your credit card statement each month to verify all charges. What should you do if you find a mistake? The following are the critical steps.
First, was the mistake from a merchant you actually purchased an item from? Sometimes the amount on your receipt is different from the amount on your statement. Sometimes a merchant will accidentally run your amount through more than one time. If it was an error by the merchant, the best step is to contact him first. You can visit the business directly if possible and get a correction documented. If that is not possible, make sure you put your request in writing.
If you get nowhere with the merchant or if you don’t recognize the business name, you should go directly to your credit card company. Call their customer service number first to get the ball rolling on disputing the charge. Also, follow up with a letter for confirmation. They will be required to research the charge and let you know what they discover. It is important to follow the process through to the end. Make sure to keep accurate records of all your interactions.
In some cases, the incorrect charge may be a sign your card’s security has been compromised. If you are concerned that this may be a case of identity theft, you should immediately close the account and start a new one. This will help protect you from further fraudulent charges.
In most cases, the charge was a mistake by a merchant. Often a quick phone call is all it takes to get it removed. The Fair Credit Billing Act helps to protect you from fraud on your credit card, including items that were billed but never shipped. Protect yourself and research all the items on your statement each month.
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