What to Do If Your Credit Card Charge Is the Wrong Amount?

Credit cards are our go-to financial tools at present. Credit cards can help us when we are experiencing a financial crisis. Once we get out of a financial pickle, we can repay the credit card balance. All your credit card transactions are in the monthly statement received at the end of the billing cycle. Your credit card issuer will provide you with the monthly statement for reconciling all credit card transactions. Sometimes, credit cards users notice a false transaction that they haven’t made. In such a case, you don’t have to panic as there are ways to resolve a wrong credit card charge. Read on to know how to remove a wrong charge from your credit card bill.

What are wrong charges on credit cards?

Incorrect charges can be levied for any transaction in your credit card statement. As a responsible credit card user, you should view your credit card statement at the end of the billing cycle. Your credit card issuer will provide a detailed credit card statement via mail at the end of each billing cycle. If you do not read the credit card statement, you may not identify the wrong charges. Incorrect credit card charges are more common than you think. It might happen to you, and you will only know about it by reading the credit card statement.

Another way of discovering incorrect charges is by turning on push notifications for credit card transactions. For each online credit card transaction, you will receive a push notification on your smartphone. You can know about a wrong credit card charge in real-time via push notifications. Your credit card can be wrongly charged for several reasons. Some common reasons that lead to incorrect charges on a credit card are as follows:

• You can see a merchant payment in your credit card statement, which you already canceled.

• You may discover a wrong processing fee or annual fee implied by your credit card issuer in the monthly statement.

• You may not find a refund mentioned in your credit card statement when the merchant claims to have processed it already.

• You may come across lower credit card payments than you did in the monthly statement.

As you can see, there are numerous instances where an incorrect charge is added to your credit card. Let us see ways to resolve an incorrect charge applied to your credit card.

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Talk to the respective merchant for an incorrect charge

Sometimes, a merchant may unwillingly charge more on your credit card than the price of the product/service. Let the merchant know that you have been charged incorrectly for a product/service. You can also contact the merchant if you have received a fewer refund amount as per the cancellation policy. You can also provide the merchant with a copy of your credit card statement. The merchant will cross-check the payment and do the needful. Usually, merchants are quick to revert any incorrect charges applied on credit cards. To maintain good customer relationships, merchants do correct their mistakes. Merchants can revert your credit card money as a cashback or a store credit.

Reach out to your credit card issuer for an incorrect charge

If you have been charged an incorrect annual fee, processing fee, or interest fee, you can reach out to your credit card issuer. Make sure you reach out to the credit card issuer as soon as possible for an incorrect charge. Usually, credit card issuers revert incorrect charges for up to 60 days. Some credit cards issuers may allow you to raise disputes on older credit card charges. You can raise a dispute on a credit card transaction in writing. You can also submit a complaint online to your issuer about an incorrect charge. The issuer will investigate the dispute and revert your credit card money.

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Reach out to the respective authorities

As a credit card customer, you have your rights defined by respective authorities. If the merchant or the credit card issuer isn’t helping, you can always take the matter to the higher authorities. If you are incorrectly charged, authorities will get your money back. However, your credit card issuer will revert the incorrect charges in most cases. Reconcile your credit card payments to find any incorrect charges!