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Errors and disputes
When you open a credit card account, the issuer must notify you about the rules for correcting billing errors. The issuer needs to act promptly on these rules if errors occur.
Mistakes on your bills can be disputed. During the investigation period, the payment of the amount is withheld. The error may be a charge for the wrong account, anything you refused or failed delivery. The rest of the bill not in dispute including finance and other charges however, need to be paid.
To dispute a charge, write to the creditor with all your details mentioned. Don’t delay as the creditor must be informed within 60 days of the bill with the error having reached you.
If your complaint is not rectified, the creditor has to acknowledge it in writing within 30 days. The dispute has to be sorted within a maximum of two billing cycles but not beyond 90 days.
If your card has been used without your knowledge you are responsible for only up to $50. But if you are able to report loss of the card before the card is used, you cannot be held responsible for any of the charges. Credit card info.com reports:
Errors on Your Bill. Issuers must follow rules for promptly correcting billing errors. You'll get a statement outlining these rules when you open an account and at least once a year. In fact, many issuers include a summary of these rights on your bills.
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