FCBA Basics
This law protects consumers from unfair credit card billing practices.
What is the Fair Credit Billing Act?
A charge for something you didn’t buy.
What is an unauthorized charge?
Consumers can dispute billing errors by sending this to the credit card company.
What is a written dispute letter?
Consumers must report billing errors within this number of days after the statement is sent.
What is 60 days?
The FCBA limits liability for unauthorized credit card use to this amount.
What is $50?
The type of accounts the FCBA mainly applies to.
What are credit card accounts?
Being charged twice for the same purchase.
What is a duplicate charge?
The company must acknowledge your dispute within this many days.
What is 30 days?
The company must respond acknowledging the complaint within this time.
What is 30 days?
This happens when someone uses your credit card without permission.
What is credit card fraud?
The government agency that enforces the FCBA.
What is the Federal Trade Commission?
The term for a mistake in the amount charged.
What is an incorrect billing amount?
The maximum time the company has to investigate the dispute.
What is 90 days?
Maximum investigation period for a billing dispute.
What is 90 days?
A protection that allows you to withhold payment for faulty goods or services.
What is withholding payment under dispute?
The document where billing errors usually appear.
What is a credit card statement?
A charge for something you returned but were still billed for.
What is a returned item billing error?
During an investigation, consumers do not have to pay this amount.
What is the disputed charge?
The type of disputes the FCBA handles within these time limits.
What are billing disputes?
Consumers can request proof of this when a charge is disputed.
What is a purchase record or receipt?
The year the FCBA became law.
What is 1974?
When a credit card company fails to credit your payment correctly.
What is a misapplied payment?
If the company finds an error, they must remove the charge and this.
What are fees or interest related to the error?
If you miss the 60-day deadline, this protection may be lost.
What is FCBA dispute protection?
The type of purchases the FCBA protects when there are billing errors.
What are credit purchases?