Having detailed about the basics of credit card use and the rights of the cardholder, i.e. you and me, now I’m starting with the kind disputes one can file with the bank or financial institution as the case may be.
Please note that the banks may not have their in-house dispute
department and may have tied up with a third party who handles the disputes on
the credit cards and debit cards on behalf of your bank. You can either file a
dispute with this third party directly or can file with your bank who in turn
will contact their partner.
The banks and their partners classify the credit card disputes of
the Cardholders under various Dispute Heads, namely:
1) Cancellation :- A merchandise order or a Service
is cancelled subject to merchant’s policy or cancellation of recurring (monthly
or annual) charges..
2) Return: A merchandise order is returned within
the merchant’s policy.
3) Duplicate Charge: A cardholder is charged more than once
for the same service or merchandise.
4) Not received: Services or Merchandise not received by
the expected date.
5) Not as Described: Services or Merchandise is not as
described as it was at the time of sale/purchase..
6) Late presentment: When merchant presents the charges late
on the card. Ex. The transaction date was of Jan 1st, 2012 however, was presented on June 30th,
2012.
7) No Knowledge of the charge to the Cardholder or
Cardholder Does not Recognize the charge.
8) Unauthorized Charge
9) Charges paid by other means or Paid Direct: when the charge has been paid by other
means like check, bank order, money order or other card however, charge is
still put on your credit card or debit card.
10) Overcharge: When merchant has charged more than what
was advised to you. Ex. $80.00 was the price of the merchandise including taxes
however, you were charged $90.00.
11) ATM disputes: Amount not received from an ATM, less
amount was received etc.
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