![]() ![]() If an unauthorized user makes purchases with a credit card, the cardholder's liabilities are limited to $50.If a consumer has a dispute with a merchant, they can ask the card issuer or lender to withhold payment and request that it help resolve the dispute.However, if a credit card was lost or stolen, consumers may dispute charges by phone rather than in writing.Charges must be over $50 to be eligible for dispute.Consumers have 60 days from the time they receive their credit card or loan bill to dispute a charge with the card issuer or other lender.The Act provides consumers with protection from unfair billing practices such as:ĭuring an investigation, a consumer may withhold payment only on the disputed amount, not on the rest of their bill. The Federal Trade Commission enforces the Fair Credit Billing Act, which covers open-end credit accounts, such as credit cards, charge accounts, and lines of credit. A chargeback is the return of money to a customer following the successful dispute of a particular transaction.While the FCBA protects consumers from unfair billing practices, the Fair Credit Reporting Act (FCRA) addresses practices involving the use of a consumer's personal information. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |