All you need to know about chargeback (and how it’ll save your day)

All you need to know about chargeback (and how it’ll save your day)

If you have any kind of problem with a transaction, you want a refund of what went wrong. When the seller denies it, chargeback can definitelysave your day. So, read on to find out all you need to know about chargeback (and how it'll save your day). 

Chargeback is a powerful tool when it comes to solving problems with credit card transactions. As a customer, you’re protected by the Fair Credit Billing Act against credit card fraud, which is one of the reasons why these cards are the best ones to shop online.

If you’re a victim of fraudulent charges and billing mistakes on your credit card, you can resort to chargeback. This also applies if you receive a damaged or incorrect item when shopping.

All you need to know about chargeback

The first step to get a cashback is to document the issue. You need to take pictures of the products that you received and their original description in order to compare both of them. It’s also important to save all packing slips and bills.

Afterward, you should call the merchant. You need to explain to them the problem and what you expect as a refund. Be clear with them and save, again, all your emails and messages. These will come in handy if you need to take further action. In case you make a phone call, write down the exact time, the name of the person you spoke to, and what they said.

Ideally, that’d be the end of your problem. Most of the time, the merchant won’t want to risk getting a lawsuit for this. If both of you act reasonably, there should be no reason why you couldn’t come to an agreement.

However, there’s the possibility that the seller doesn’t accept your claim. In this case, you need to contact your credit card company to dispute the charge. To start the cashback process you can’t wait longer than 60 days after the purchase (although some companies’ policies may give you some extra time). You’ll receive a conditional refund on your statement while your company investigates the problem. If your claim’s proven to be legitimate, the refund will stand. If not, the credit charge will reappear.

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