When You Have a Problem with Your Purchase
Buying things with your credit card can be an
absolute life saver. Let’s say you buy a
new desk and it arrives damaged. The merchant
refuses to take it back, replace or repair it.
All you have to do is discuss this issue with
the credit card company you charged the desk to.
They will intervene on your behalf insisting that
the merchant take care of business or they will
charge him back the cost and credit your account.
If you are using a merchant card you may have
greater dispute powers than with a major credit
card. However, the major credit card companies
are doing better at helping customers with disputes.
In addition, some credit card companies have insurance
to cover lost, stolen or damage to items even
after you take possession .
If you are going to make a dispute based upon
quality you must first attempt to solve the problem
with the merchant so make sure to keep records
of who you spoke to, when, and at what number,
to give to the card company.
Keep records of phone calls and copies of letters
you have sent trying to resolve the problem. Your
credit card company will investigate and report
back to you their findings. Sometimes the merchant
in question will take care of things rather than
lose the sale entirely or else your card will
credit you for the cost of the item.
You will not need to make a payment on the disputed
amount, until the issue is resolved, however you
must make your regular payments. Interest on the
disputed item is also refundable. Make sure the
credit card company does its part and duly cancels
the debt. Don’t withhold payment from the
credit card company as it will reflect poorly
on your credit report.