One of the common problems of credit card is the charge backs and transaction disputes. No matter how trustworthy your credit card providers are or how good their intentions are, it is not a guarantee that transactions will not go wrong. With so many millions of dollars in credits processed each month, there are times that things could go wrong because of machine failure or human errors and it could happen to you. Disputed amounts, unauthorised transactions and duplications are just examples of credit card problems. In cases such as this, it is important that you know what you need to do.

Here are some tips provided by Financedeals.com.au.

• Inform your credit card provider immediately so that they can suspend the disputed amount or transactions without interest. Most credit cards have cut-off periods in reporting these types of problems and they also have time limits for confirmation if you intend to go ahead with the dispute.

• Charge back is a procedure where the issuers of your credit card will charge a portion of the disputed amount back to the merchant’s bank. This can happen for several reasons in which the most common are the following:

o       Unauthorised transactions

o       Non-receipt of requested documents

o       The cardholder did not receive the goods        

o       Cancellation of recurring transaction

o       Not rendered Services

• Make it a habit to check your credit card statement as soon as you receive it to avoid missing unauthorised transactions.