How do I send my credit card company a billing error notice? | Consumer Financial Protection Bureau (2024)

FAQs

How do I submit a billing error? ›

If you believe an error has been made on your credit card bill, you should send your credit card company a written letter within 60 days of the charge appearing on your billing statement. The letter should include information that identifies yourself and what you are disputing.

I am writing to dispute a charge of [$______] to my [credit or debit card] account on [date of the charge]. The charge is in error because [explain the problem briefly. For example, the items weren't delivered, I was overcharged, I returned the items, I did not buy the items, etc.].

This Act, amending the Truth in Lending Act, requires prompt written acknowledgment of consumer billing complaints and investigation of billing errors by creditors.

The creditor must send you written acknowledgement of your dispute within 30 days, unless the problem has been resolved. The creditor cannot take any legal action against you while your complaint is pending. The creditor must investigate and resolve your dispute within two billing cycles, but no more than 90 days.

What does the credit card company have to do? They must acknowledge receipt of your letter within 30 days. Within 90 days or two billing cycles, they must investigate your dispute. They must correct their mistake or explain to you in writing why the bill is correct.

A creditor must conduct a reasonable investigation before it determines that no billing error occurred or that a different billing error occurred from that asserted. In conducting its investigation of an allegation of a billing error, the creditor may reasonably request the consumer's cooperation.

Example 1: Your monthly statement includes a $47.50 purchase that you or your spouse didn't make. Example 2: Your statement does not give you credit for a payment you made. Example 3: Your statement does not reflect a credit memo that a retailer issued after you returned a product.

Additionally, the Consumer Financial Protection Bureau (CFPB) takes complaints through the CFPB website, and through a toll-free number 1-855-411-2372. The only credit card issues under the direct jurisdiction of the Commissioner involve state chartered banks and state chartered credit unions that issue credit cards.

Who has oversight over credit card companies? ›

The Consumer Financial Protection Bureau (CFPB) helps consumers by providing educational materials and accepting complaints. It supervises banks, lenders, and large non-bank entities, such as credit reporting agencies and debt collection companies.

Your credit card company must mail or deliver your credit card bill at least 21 days before your payment is due. In addition Your due date should be the same date each month (for example, your payment is always due on the 15th or always due on the last day of the month).

Notify them in writing, using certified mail with a return receipt for proper documentation. Your letter should clearly state the disputed amount. It should also provide information about the charges in question. If you are in a billing dispute, following federal requirements is important.

To dispute a charge, send a letter to your credit card company's address for billing inquiries or errors. Your credit card company will investigate the dispute. If it resolves it in your favor, it will remove or fix the charge.

► When you dispute a billing error, include your name, account number, the dollar amount in Page 9 7 question, and the reason you believe the bill is wrong. ► If in doubt, request written verification of a debt. ► Keep all your original documents, especially receipts, sales slips, and billing statements.

Dear [Customer Name], We apologize for the billing error that occurred in your recent invoice. We take full responsibility for the mistake and are working to resolve it as quickly as possible. We assure you that we will take steps to prevent similar errors from happening in the future.

Whether you're on the sending or receiving end of an invoice discrepancy, the best approach is usually direct, honest communication. Reach out to your customer or vendor and let them know what happened as soon as possible so you can work through the inaccuracy and resolve the dispute.