How to Challenge a Charge on a Credit Card Statement
Your credit worthiness is dependent on diligently monitoring your credit card statements and disputing any questionable charges or reporting errors. While challenging credit card companies can seem daunting, it is important to protecting your credit.
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Instructions
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If you suspect fraud, contact the credit card company immediately. Note the date and time and the name of the customer service representative who handles your call. Explain the fraudulent charge. In most cases, your safest recourse will be to report the card stolen to avoid incurring further fraudulent charges. By law, once you report a card lost or stolen, you're liable for only up to $50 of fraudulent activity.
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Pull together any documents that support your claim. Statements, receipts, and call logs can be used to support your dispute. Make copies and keep the originals in your files.
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Prepare a statement that details your dispute. Send it by certified mail with a return receipt, along with copies of your documentation, to the credit card company. Be sure to keep the receipts from your mailing in case you need to verify when the letter arrived at the credit card company and who signed for it.
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Get the resolution from the credit card company in writing. This should not only include how the problem will be solved (i.e. reversing charges or issuing credit, etc.), but will also retract any negative reports sent to the credit bureaus.
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Get a copy of your credit report. While the credit card company may resolve the account issue, you need to make sure the issue doesn't end up on your credit report. If it does, you can dispute it the same way you challenged the credit card company. Prepare a statement and send it along with documentation, including the written resolution from the credit card company to the credit bureaus. Be sure to send it by certified mail with a return receipt so you have documentation. Credit bureaus have 30 days to reply to your dispute in writing.
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Tips & Warnings
Keep copies of all statements, records, correspondence, and phone calls with the credit card companies. The only way to succeed in a dispute is to have proof that shows your claim is valid.
