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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.

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