I Didn’t Buy That!

Have you ever opened your credit card statement only to find a charge for a purchase that you did not make? It does not happen very often but it happens and you need to know what to do. The first thing that I recommend is that you do is call the merchant if the number for the merchant is not listed on the statement call your credit card company they will give the contact number for the merchant. As a merchant that sells coat racks online we receive calls from time to time from people questioning a charge from us they ask “What do you sell” when we respond coat racks they in veritably say oh that’s right and that is the end of the problem.

If you can not get a good answer from the merchant call your credit card company and explain the situation all credit card purchases are covered by the Federal Truth in Lending Act and are covered under the Fair Credit Card Purchasing Act or commonly known as the Consumer Protection Act. This is handled by the FDIC you can get more detailed information from their web site at fdic.gov. Credit card disputes are supposed to be resolved within 90 days after you call your credit card company send them a registered letter explaining the same thing you went over on the phone send copies of any supporting documents. It is a good idea if possible to go ahead and pay the disputed amount rather than to carrie it over non payment can cause higher interest rates and incur late charges that may not be taken off when the charges are removed. When the charges are reversed a credit will show up on your card in the next month so you will get it back with out receiving any extra charges.

If your credit card company decides that you are still responsible this will require a copy of your purchase receipt and a copy of your signature. If the merchant has a copy of your receipt with your signature. It can be a tough road to get your money back but if the merchant does not have your signature or the signature does not match then usually the credit card company will reverse the charges.

You are allowed to get a copy of your credit report once a year for free, it is a god idea to take advantage of this and actually set a date every year and request a copy on that date. Your credit report can possibly show you any fraudulent activity. Many ID thefts are done so to get a new credit card issued to the thief with their signature and address. The request for a new credit card will show up on your credit report if you see any new cards or loans issued in your name that you did not in fact open contact the lender who issued the loan and get it cancelled and any charges taken care of.

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