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How to Dispute a Credit Card Transaction?

How to Dispute a Credit Card Transaction?


In our day-to-day lives, credit card transactions are very common, quite popular and very convenient. However, what should you do that one time when you end up making a faulty transaction on your credit card?


Or what if you suddenly see a wrong credit card transaction on your credit card statement? Normally, alarm bells go ringing in your head whenever something like this happens. But, you have to keep calm, and do everything that you can to ensure such fraudulent credit card chargebacks are fixed and do not happen in the future.


Here’s our blog on how you too can dispute a credit card transaction easily. 


What are Credit Card Chargebacks?


A credit card chargeback is initiated when you dispute a transaction with your credit card issuer. This can usually be done by contacting the issuer’s customer service department either online, over the phone, or through a written letter. It’s important to act promptly as there are usually time limits for disputing transactions, often within 60 days of the statement date where the charge appeared.


Understanding credit card chargebacks is crucial for consumers to navigate disputes effectively and protect their financial interests. 


What are the key aspects of credit card chargebacks?


Here’s a detailed explanation of the key aspects involved in understanding credit card chargebacks:


Initiating a Chargeback: A chargeback can be initiated by contacting the credit card issuer’s customer service department. Most issuers provide online forms or phone numbers specifically for disputing transactions. It’s essential to act promptly as there are usually time limits for disputing transactions, typically within 60 days of the statement date.


Reasons for Chargebacks: Chargebacks can occur for various reasons, including unauthorized transactions, billing errors, goods or services not received, or fraudulent activity.


Investigation Process: Once a chargeback is initiated, the credit card issuer investigates the dispute. They may request additional information or documentation from the cardholder to support the claim. Simultaneously, the issuer contacts the merchant’s bank to investigate the transaction from their end. The merchant may have the opportunity to provide evidence to refute the dispute.


Resolution of Dispute: After reviewing all the evidence, the credit card issuer determines the dispute. If the dispute is found to be valid, the issuer issues an interim chargeback credit, refunding the disputed amount to the cardholder temporarily. However, if the issuer finds in favour of the merchant, the chargeback may be reversed, and the cardholder becomes responsible for the disputed amount again.


Impact on Merchants: Chargebacks can have financial implications for merchants, as they may incur fees and penalties for disputed transactions. Excessive chargebacks can harm a merchant’s reputation and even lead to the termination of their merchant account.


Recommended: Get an Airtel Credit Card Without Paying Joining Fees


What Is Interim Chargeback Credit?




Interim chargeback credit is the temporary refund that the credit card issuing bank refunds you while your claim to the dispute is still being checked. This credit chargeback is usually offered to customers to ensure that they are not put through strenuous financial constraints when something like this happens. However, you must know that the interim chargeback credit can also be reversed if the bank ultimately decides in the favour of the merchant.


Also Read: Ways To Check Your Credit Score Online



Remember that you should never be scared about disputing a credit card transaction. It is your fundamental right that you should not have to pay for faulty charges, unauthorised charges or in the case of a billing error.


Make sure you have a complete understanding of how the entire credit card chargeback system works so that you too can dispute any transaction that has been made on your credit card in a faulty manner.

While such instances are very common, if something like this keeps happening to your credit card, then it is time for you to switch. Get yourself the Airtel Axis Bank Credit Card, which offers multiple cashback offers, lucrative benefits, and helps you save money every day! Download the Airtel Thanks mobile recharge app today and apply for the credit card from there.