Credit Card Charges: Nowadays credit cards have become an essential part of our life. But some troubles may also occur in their use, such as charging more than once, transaction without your permission, or any mistake in the bill. At such a time, it is important that you correct these mistakes quickly and correctly and protect you from loss.
Let us know 6 effective methods, with the help of which you can identify the problem related to your credit card and save your loss.
First of all understand the problem
When you question a transaction, first know whether it is really wrong or not. There can be many reasons for wrong charging, such as repeated transactions, using your permission, mistake in business billing, charge of the subscription you had stopped or the amount is wrong. Sometimes traders bill differently, so check your email, app history or receipt so that the mistake can be correctly identified.
Note all the necessary information
It is important to keep the correct information about the transaction. Such as transaction ID, date, amount, merchant name and record of conversation with the businessman. Also keep screenshots of email or bank statement so that they can become your evidence if needed.
Talk to the first businessman
Often the dispute is resolved directly by talking to the merchant. If the charge is made twice by mistake, then they can correct it without coming in the middle of the bank. After talking on the phone, do not forget to confirm this conversation with email so that you have evidence.
Then inform the bank
If the problem is not solved by the businessman, then immediately tell your bank or credit card issuer. Most banks provide the facility to register disputes with mobile apps, internet banking, phone or email. Keep in mind that complaints have to be made within 30 to 60 days, so do not delay.
It is necessary to fill a complaint form?
Some banks have to fill the official form to start dispute, in which you give full details of your problem. Sign it and send it to the bank and keep your copy.
Keep an eye on the process
Generally, banks settle the dispute in 7 to 30 days. During this time, they can not stop by cutting your money from the account or also give you temporary credit. The bank will keep giving you information from phone, email or message. If the decision comes in your favor, the amount will be returned.
Know your rights
According to the rules of the Reserve Bank of India (RBI), if you complained on time, you are not responsible for any fraud transaction. In this situation the bank compensates for your loss. You can challenge any transactions without your permission. If the bank does not get a satisfactory answer, then you can also complain to the banking Ombudsman.
If there is any mistake in the use of credit cards, then take action soon. Registering controversy is not just a way of correcting mistake, but also the protection of your money and rights. By taking the right steps at the right time, you can keep both your financial security and credit history fine.
Also read: Credit Card: Credit Card can be implicated in debt trap, know easy 8 ways to avoid