Credit card chargebacks today have become very popular. In the last decade, this issue has become so popular that most credit card companies have made it part of their criteria.
In simple terms, a credit card chargeback occurs when credit card companies such as: American Express, Visa, Mastercard, attempt to have a purchase refunded either due to fraudulent charges or buyer's remorse.
Chargebacks have become one the most common ways that consumers are able to fight unfair sellers and merchants who try to commit fraud and steal money away from them.
Types of frauds and chargebacks
Fraud or Lying
As a consumer, you always have the right to go to your credit card company and report any charge that you feel has been put on your account fraudulently. The next step is for the lender to go to the merchant and present your claim. If the merchant in any way feels that you are lying or not presenting the correct facts, they too can go back to your lender and claim that they are in the right and will not refund you the money.
In these instances, your lender will immediately require that the merchant provide a proof of sale or receipt that verifies that the sale was completed by you, voluntarily. If the merchant can provide verifiable evidence, the credit card company will have to go with the merchant and deny your chargeback request.
Most credit card lenders have a time window in which they require you to file your claims. Usually this is time frame is 60 days. The sooner you place a request for a chargeback, the more likely they will be able to process and complete it for you. It is not advisable to file a chargeback after 30 days as the credit card company needs time to process and allow the merchant to respond.
If the 60 day time limit lapses without a resolution being met, then you will lose your claim to a chargeback. Even in instances where you are correct and rightful to your money back, if you are out of the time timeframe you cannot get your chargeback.
Notify the Merchant First
Merchants, for the most part, want to clear up any issues directly with the customer if possible. Not only does this save time but it also stops the credit card companies from having to get involved. Merchants are much more willing to cooperate with the customers directly than having to deal with credit card companies, as it makes them feel as if they are being fraudulent or cheating a customer out of money.
If you contact the merchant in a professional manner and the merchant refuses to give you your money back, then you have the right to claim a chargeback through your credit card company. The merchant will usually oblige to credit card companies as they apply more pressure. Either way, as long you are timely and professional the usual result will be you getting your chargeback successfully.Back to top