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Advice on Letters for Credit Disputes

When you have a charge on your statement that is incorrect, it is important to document your interactions. Often this documentation is in the form of a letter to either a merchant or your credit card company. It is important that this letter follow some basic rules for your protection. While there are laws to protect the misuse of your credit card, there are also some rules you have to follow to ensure the laws protect you. In order to utilize the protection of the Fair Credit Billing Act, you must contact the merchant directly who placed the incorrect charge. … Continue reading →

What to do if you Have a Mistake on your Credit Card Statement

Ideally, you are checking your credit card statement each month to verify all charges. What should you do if you find a mistake? The following are the critical steps. First, was the mistake from a merchant you actually purchased an item from? Sometimes the amount on your receipt is different from the amount on your statement. Sometimes a merchant will accidentally run your amount through more than one time. If it was an error by the merchant, the best step is to contact him first. You can visit the business directly if possible and get a correction documented. If that … Continue reading →

Beware of Credit Card Blocking

If you travel frequently, you no doubt have had a run in with a credit card block. Blocking a portion of your available credit is a legal practice used by hotels and rental car companies. They put a hold on anticipated costs that you may incur while staying in a hotel or using a rental car. It is standard practice, but at times it can cause a few headaches. It is good to be aware of credit card blocks to avoid some pitfalls. The two most common both involve your credit limit. The number one hassle with a credit block … Continue reading →