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There are laws that protect you as a consumer, both state laws and federal laws. These laws apply to your credit cards and your debit cards. Because of these laws, you can have added protection for when you have problems with your purchases if you buy with a card instead of cash or check. There is no reason for you to lose money.
What happens if you order something online and do not receive it? Interestingly enough, there are companies online that purposely confuse their customers so that it is next to impossible to phone them. If you haven’t received a package from a purchase online within the number of days advertised and if you have made your purchase with a credit card or a debit card, all you have to do is call your card’s issuing bank or financial institution. You need not try to deal directly at the point of sale. Usually one call to the issuing institution will fix your problem so you can get your money back or get your merchandise if you still want it. But, if you do not clear your problem up within 60 days, send a letter with the same information to the financial institution or bank. (Make sure you have the dispute address and not the billing address.) Keep copies of all your paper work.
What if you have returned an item and have not received credit? Again, it is best to deal with your credit card or debit card company/bank and not with the merchant. A bank or a financial institution will credit your card immediately and then deal with the merchant. If you deal with your credit card company, you will not have to pay a disputed charge or pay interest on that same charge until the problem has been cleaned up through a company that may drag its heels.
What happens when you see an unauthorized charge on your bill? Bank and credit card institutions must refund overcharges, unauthorized purchases, or unauthorized withdrawals. You are only responsible to notify your card company, and the sooner the better. That is why you can save yourself both money and anxiety by keeping your receipts and checking them monthly against your credit/ debit card statement.
What can you do if you are a victim of identify theft? Don’t lose money or let your credit score be affected. Contact the Bureau of Consumer Credit Protection at 1-800-332-8529. Also notify all your card companies.
It may be best to purchase products online with a credit card or a debit card to make sure you are protected by consumer laws which those companies must follow. These same protections will work with over-the-counter purchases. Then you are less likely to lose money or have credit problems.
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