There are few questions related to your credit card statement whose answers should be known to you.
What to do if there are errors on your billing statement?
Most important reasons that you should review your credit card statement is to verify that everything is correct. If you spot a billing error, you have the right to dispute it with the credit card issuer. But, you have to make the dispute within 60 days that the credit card statement was mailed to you.
Credit card issuers problems.
Many credit card issuers will resolve your dispute if you simply make a phone call. However, to protect your rights under the Fair Credit Billing Act, you need to send a letter detailing your dispute.
Complain process for credit card issuer
This way, you have proof that you disputed the billing error, if the credit card issuer doesn’t resolve the issue and you have to complain to a government agency or sue your credit card issuer. It’s OK to start the process with a phone call and then follow up with a letter.
All transactions aren’t listed on your billing statement.
Your billing statement only includes account activity within your billing cycle. Transactions you made before or after the start and end of the billing cycle won’t appear on your billing statement. Check the top of your credit card statement for the billing cycle dates.
Online account transaction.
You can log on to your online account to see a list of transactions. That have posted to your account since your billing statement had prepared. You’ll have to look for a copy of a previous credit card statement if you need to see a transaction that occurred before the billing cycle for your current credit card statement.
What if you don’t receive a billing statement?
You may not receive a billing statement if your account balance is zero and there was no activity on your account within the previous billing cycle. If your credit card issuer doesn’t have your correct address, for example you moved recently and haven’t given your new address to your credit card issuer, you may not receive a billing statement.
Credit card receiving duration.
For new credit card accounts, it can take several weeks to receive your first statement, longer depending on when the first transaction posts to your account. Call your credit card issuer if you don’t receive a credit card statement for a particular month, especially if there may be a payment due.
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