What types of billing errors are covered by the Fair Credit Billing Act?

The Fair Credit Billing Act is a federal law that applies to consumers in all states, including Minnesota. The Act protects consumers from certain types of billing errors on their credit cards and offers recourse for consumers who find themselves in disputes with their credit card provider. Billing errors covered under the Fair Credit Billing Act include unauthorized charges, incorrect charges, and charges that list the wrong date or amount. The Act also covers charges that do not list the name of the consumer or the merchant from whom the goods or services were purchased. It also covers charges that were not accepted by the consumer or that the credit card company was not authorized to make. The Act also protects consumers from mistakes made by the credit card company in calculating the finance charges, credit limits, and the balance on the account. It also covers mistakes in applying payments made by the consumer, rejecting payments, and not crediting payments. Additionally, the Act requires issuers to provide consumers with a written explanation of why a charge was not accepted within thirty days of the incident. Finally, the Act protects consumers from charges made after the consumer has closed their account or reported the card as lost or stolen. If the credit card company fails to follow the provisions of the Act, it must correct the error and provide compensation for any fees or other charges associated with the mistake.

Related FAQs

What should I do if I disagree with a credit card company's decision?
What should I do if I cannot afford to make credit card payments?
Can I dispute a chargeback?
How long does a credit card dispute resolution process take?
What happens if I do not have enough evidence to support my dispute?
What if my credit card company refuses to accept or agree to my dispute claim?
What is a chargeback?
What are the risks of debt settlement?
What is a credit freeze?
What should I do if I am threatened or intimidated by debt collectors?

What types of billing errors are covered by the Fair Credit Billing Act?

Related FAQs

Related Blog Posts