A credit card dispute on transactions made, offers consumers three protections: protection against unauthorized use, billing error procedures, and the right to withhold payment. Lenders follow a set of procedures when you file a credit card dispute for a discrepancy in your bills. Keep in mind that at the end of the investigation, these protections may still result in a finding that you are liable to pay for the disputed transaction. The law(s) applicable to your particular set of circumstances will dictate the actual amount – if any that you are liable for.
Protection against Unauthorized Use
In an era where merchants accept payments by credit cards on the Internet and by phone, the problems relating to the unauthorized use of credit cards have increased. Unauthorized use includes situations where your credit card or credit card number is stolen, borrowed, or used without your consent. If it is proven that your credit card was indeed used without your authority, then the law limits your liability to $50. In most cases the issuers of credit cards waive this payment.
Once an unauthorized charge has been reported to the issuer, the latter makes a...
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