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What should you do when you notice billing errors on your credit cards?

Answered on | Updated on August 4th, 2010
The content is accurate at the time of publication and is subject to change.

Considering the number of people who use credit cards today, it is not impossible to fall prey to credit card billing errors. Each day, every lender processes transactions of over a million cards from all over the world. So, the possibility of encountering billing errors is high. But, does this mean that you should not do anything when you notice billing errors? Of course, not! The FCBA (Fair Credit Billing Act) gives the common man the right to have these errors rectified. Unfortunately, though, not a lot of people are aware of what to do in case of such errors. Let us take a look at the sequence of steps that you need to follow when encountered with such situations.

First of all, it is your responsibility to review your monthly credit card billing statements when they arrive and spot any errors. Check to see if the previous payment you made has been credited to your account and also to ensure that the bank has not billed you for any late charges even though you made the payment on time. These are the two most common billing errors that people face and both these errors can have a significant impact on your outstanding balance.

One of the most common things that people do when they notice billing errors is that they call the customer service department and notify them of the discrepancy. What they donЎЇt realize is that this will not have any impact and it does not imply that the lender has to take action to have it rectified. In most cases, the lender just continues to ignore the complaints by the customer and levies even more charges for non-payment of dues.

Instead, you should send a written complaint to the address mentioned by the lender on the billing statement. Ensure you mention all the relevant details like the card number, your billing address and the specifics of the errors. If you have any proof that substantiates the error made by the lender, then, attach that as well with the mail that you send them. This will ensure that your credit card lender takes notice of your problems and makes effort to get the error rectified. Once you have submitted the rectification request in writing, the lender cannot bill you for the extra charges on the card. Once the changes have been made, it is the responsibility of the creditor to inform you about the changes made.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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