| So you've thought about getting a credit card, but all | | | | they must issue you a refund within seven days of |
| you've heard about from parents, friends, co-workers, | | | | receipt of your request. |
| and the like is that they are just trouble. Horror stories | | | | Resolution of Errors: |
| of over limit charges, finance charges, late fees, | | | | If you feel as though there is an error on your billing |
| mysterious charges, telemarketers, and missing bills | | | | statement, you must submit a written complaint within |
| dance through your head like sugar plumb fairies in | | | | sixty days of the error's occurrence. An investigation |
| children on Christmas Eve. It's important to know, going | | | | must follow within two billing cycles, and no later than |
| into your first, or even your fifth credit card experience, | | | | ninety days of receiving the complaint. This is federal |
| that as a credit card holder, you have certain rights | | | | law, and for more information you can contact the |
| that go along with your responsibilities. | | | | Federal Trade Commission. |
| Here's a rundown of some your credit card rights: | | | | Removal of Unauthorized Charges: |
| Prompt Credit for Payment: | | | | If your card is lost or stolen, report it immediately. |
| Your creditor is required to post payment received | | | | Following a lost or stolen report, the cardholder is not |
| within twenty four hours of receiving it. In order to | | | | liable for any charges. If you find fraudulent charges on |
| insure that this system goes smoothly from your end, | | | | your account, you can be held accountable for up to |
| make sure that you make yourself familiar with the | | | | fifty dollars per card. However, fifty dollars is the most |
| payment procedures for your card. | | | | you will owe for unauthorized charges, even if the thief |
| Refunds of Credit Balances: | | | | uses your card to access an ATM machine. The best |
| If you overpay your credit card bill, that is the total | | | | way to avoid any payments on your behalf for stolen |
| amount, not a specific monthly bill, you have a right to | | | | goods is to report a missing or stolen card as soon as |
| receive a credit on your account. You can also | | | | you discover it missing. This way, the company will |
| request that the credit card issuer send you a refund | | | | cancel the card and you will not be held responsible for |
| of the over-paid balance. This only applies if you have | | | | any charges. |
| completely paid off the total amount, and have issued | | | | It is best, going into any new experience, to understand |
| additional payment. It does not apply to an | | | | your rights and responsibilities. Request a written copy |
| overpayment of a monthly minimum. If you overpay | | | | of these rights from your credit card company, and |
| your balance, your creditor will automatically credit your | | | | feel free to call them with any questions or concerns. |
| account the additional funds, which you will not be | | | | Make sure that you arm yourself with information, and |
| required to re-pay, as it is your money. However, if you | | | | you will never be caught unawares. |
| submit written request for a refund of the balance, | | | | |