Many people today prefer to do their shopping over the internet, rather than personally visit the shop to make a purchase. Indeed, the number of online shoppers continues to increase primarily because purchasing over the internet is very convenient.
Unfortunately, case of credit card fraud and crimes related to identity theft also increase. To protect consumers from illegal transactions, the Fair Credit Reporting Act was passed. Now, consumes have the right to dispute unauthorized charges in their accounts so they cannot be force to pay for purchases that they did not make.
Listed below are essential steps that you can do if you believe to have been victimized by credit card fraud:
Call your credit card issuer.
If you see any unfamiliar transaction in your credit card bill, call up your issuer right away to inform the matter. Usually, minor discrepancies can be easily fixed by contacting your credit card’s customer service number. After making the call, send a follow up dispute letter via registered post mail. Ask the name of the person you talked to on the phone and the response you were given regarding the issue.
Send a dispute letter.
For more complicated complaints, a letter of dispute is a must. In your letter, point out the incorrect charges in your credit card bill. Make sure that your letter is addressed to the Complaints or Dispute Department of your credit card company. Include a copy of the billing statement with the errors clearly marked.
Upon receiving of your letter, your credit card issuer will conduct an investigation regarding your dispute which can take up 30 days. But what if your dispute has been neglected? In this case, you can demand to have your dispute escalated to the higher administrative department of the credit card company. If still no action has been done, contact the Federal Trade Commission for assistance.
Avoid being a victim of fraud.
Review and understand your credit card’s terms and conditions particularly with regards to unauthorized charges and liabilities. Before making a purchase, examine the merchant’s policies on purchases, returns and guarantee protection.