Handling Reward Credit Card Disputes
If You’re a Business Owner
If you own an online business and accepts payment through credit cards, you must be enjoying more sales and more customers than before you accepted credit card payments. However, it is inevitable that on certain occasions, you may encounter credit card disputes from some of your customers. How will you be able to handle such disputes from your customers who purchased using credit cards?
How to Handle Credit Card Disputes
Let’s talk about some of the most common disputes that you may have already encountered or may encounter in the future, the charge back dispute. A charge back dispute is when your customer complains about the charges made on their account.
Unauthorized charges usually happen because of fraud or because of unreliable customer service. Fraudulent charges are caused by identity theft which can occur both offline and online. Complaints can also be caused by untimely delivery or damages from the purchased items.
In both cases, usually the credit card company will be requiring the seller to pay for such charges. Thus, as a business owner, it is your responsibility to ensure that you give quality and reliable customer service and that your customers are protected against identity theft.
One way to ensure identity protection is to use a secured website for your online transactions. Furthermore, see to it that the quality of the products you ship to your customers are checked and well-protected. Whether selling online or in person, you should take the extra effort to verify that the person who made the orders online is the real owner of the credit card.
Additionally, don’t miss out on the small steps of verifying your customer’s identity. Don’t forget to ask your customer to sign his credit card receipts and compare the signatures from the one on the card. If you have any suspicions, call the credit company to ensure that the credit card details are correct.
If You’re a Customer
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If you own a credit card and discover incorrect charges in your account, don’t hesitate to dispute them right away. First of all, inform your credit card issuer right away. It is also recommended to send a formal dispute letter to your credit company and send it via registered mail. Your bank has the responsibility to assist you properly when such situations arise. As a consumer, you are protected by the Federal Law so don’t be afraid to speak out.
This is why consumers are advised to check their credit card statements as well as their credit report regularly. Credit card fraud and identity theft are not a very rare situation. By checking on your account, you can take the appropriate action immediately. If you take a long time before filing complaint or dispute, you may have a harder time getting a response from your credit card issuer.
As reminder, it would greatly help you if you try to speak about your dispute in a calm, polite and professional way. However, if your bank refuses to help you accordingly, you can report them to the Federal Trade Commission.