Credit Card Charges Guide | Disputing Credit Card Charge

Dispute Credit Card Charge
Credit cards have gained mass acceptance in modern day world. However, one often has to dispute credit card charges levied by the service providers. There are some easy steps for avoiding the dispute on credit card charges. Dispute on charges can occur due to several factors like identity theft.

Action plan for countering disputed credit card charges - To dispute credit card charges, it is advisable to follow a few easy steps:

The process begins with the identification of the inappropriate charges levied;
The next step involves directly contacting the product seller and seeking an explanation for the incorrect charge levied. In case the goods seller is unwilling to help, one is required to contact the credit card company. The credit card company is to be informed that the customer wants to dispute the credit card charge;

The credit card companies are often briefed over phone about the problem. Most of them send printed pro forms to clients. The cardholders are expected to send the filled up forms back to the service providers. Then the credit card company is bound to return with the feedback within a month.

Ways to ease the process of dispute settlement on credit card charges
One should begin by gathering the concerned receipts and documents before pressing a dispute charge. Relevant papers speed up the settlement procedure.

One should try to settle the dispute with the seller first. If things do not work out, then the credit card company is to be approached. The seller's contact number is most often stated in the card statement itself.
If the dispute is not settled at first go by the credit card company, then the credit cardholder is expected to search for more information and options for the settlement of his dispute. Sometimes multiple unaccounted charges in credit card bill points to a serious problem.
More often that not, it points to identity theft or in simple words fraud. In such situations, it is imperative to inform the credit card service provider as soon as possible. The credit card company then nullifies the client's existing account number and arranges for a new account for him. It is needless to say that for this, the cardholder has to fill up a declaration form.

How is the finance charge calculated?
The finance charge is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR.

Credit card companies use one of several methods to calculate the outstanding balance. The method can make a big difference in the finance charge you'll pay. Your outstanding balance may be calculated:

Over one billing cycle or two;
Using the adjusted balance, the average daily balance, or the previous balance;
Including or excluding new purchases in the balance.

Depending on the balance you carry and the timing of your purchases and payments, you'll usually have a lower finance charge with one-cycle billing and either:

The average daily balance method excluding new purchases;
The adjusted balance method, or
The previous balance method.

Minimum finance charge
Some credit cards have a minimum finance charge. You'll be charged that minimum even if the calculated amount of your finance charge is less. For example, your finance charge may be calculated to be $35 - but if the company's minimum finance charge is $1.00, you'll pay $1.00. A minimum finance charge usually applies only when you must pay a finance charge - that is, when you carry over a balance from one billing cycle to the next.

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