Occasionally, consumers will have a charge they want to dispute, be it for a faulty product,bad service, or even a scam.
However, they might find that the bank that issued their credit card has rules expressly prohibiting them from disputing charges unless they were greater than $50 in the state in which they live or within 100 miles of their address. According to a report in the Allentown, Pennsylvania paper The Morning Call, these rules are on paper because of an out-of-date part of the Federal Reserve’s Truth in Lending regulations, and banks don’t actually require these terms to be met.
The paper says that the reason they list these misleading rules, but don’t hold customers to them, is to discourage customers from disputing charges, which start a costly, time-consuming investigation by the bank. Nonetheless, consumers should be prepared to dispute any charges with which they are unsatisfied.
Further, it is important that consumers be vigilant about the charges that show up on their credit card statements, because those that they don’t recognize could be the result of fraud.