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"Fair Credit Billing
Fair Credit Billing
Have you received a credit card bill asking for payments of products that you never purchased? or have you ever been billed for a purchasing a product twice that you never did? Well, we understand unfair credit billing can be troublesome and irritating. However, you can sort your differences with the credit card company by making use of the Fair Credit Billing Act (FCBA).
Fair Credit Billing Act assures that you get fair credit belling and helps you settle your disputes with the credit card company. You can use the act if the credit card company charges you wrongly; if there is miscalculation in the bill; if you have been charged twice for the same product; if you have been sent the bill at the incorrect address, provided you had sent the notification of change of address 20 days prior to the bill; if the credit card company has charged you for wrong date or month.

Fair Credit Billing Act helps you in cases of open credit accounts like credit cards, revolving charge accounts and overdraft checking accounts. You cannot apply against installment contracts using Fair Credit Billing Act. However, if you want to make use of the Fair Credit Billing Act, you should have made the purchase of more than $50 and you must have purchased the product in your home state or within 100 miles of your billing address.

To settle the dispute using the Fair Credit Billing Act you will have to follow a certain procedure. You must send a letter to the creditor within 60 days after the reception of the bill. Do not pay the disputed amount to the credit card company but make sure that you pay the undisputed amount in the bill. The creditor should acknowledge you within the next 30 days and clarify the billing disputed in no more than two billing cycles. If the creditor fails to acknowledge your letter in 30 days, he can be penalised. If there is an error in the billing the creditor should explain in writing and withdraw the extra amount or product. However, if there is no error the creditor must explain the reasons in writing and must not charge any late fee.

If you are worried that it may affect your credit rating, then be relaxed as in the dispute period the creditor cannot harm your credit rating. So, to get a fair credit billing, make use of the rights given to you and save yourself from unwanted frustration.