What is credit card dispute resolution law?

Credit card dispute resolution law is a set of state laws that govern how credit card companies interact with their customers when there is a dispute over a charge on a customer’s credit card. This law is designed to protect the consumer’s interests and ensure that the credit card companies are treating their customers fairly. In South Carolina, this law is called the South Carolina Credit Card Dispute Resolution Act. The law states that a customer can file a formal complaint with the credit card company if they believe there is an error on their credit card statement. The credit card company must then acknowledge the complaint within 30 days and investigate its validity. If the credit card company has determined that there was an error, they must inform the customer of their decision within 60 days. The law also states that if the credit card company denies the dispute, the customer can file a formal appeal within 60 days of receiving the decision. In the event that the credit card company does not respond to the customer’s appeal within the designated timeframe, the customer may take the dispute to court. The consumer will then have the opportunity to present their case and the judge will determine whether the credit card company is liable for any damages. Ultimately, credit card dispute resolution law exists to protect the customer’s interests and ensure that credit card companies are held accountable for their decisions.

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What is credit card dispute resolution law?

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