Dose dispute on credit card charge affect my credit scoring?

Question

Bought things on NET. Returned. They received. But dodging to refund. It's been four months. This is the reason for dispute.

Answer 1

An open dispute does not affect your score, but the fact that it is on the credit report does affect the score. Usually disputes are resolved within 30 days, so keep checking back ensure it gets closed.

Answer 2

Anytime that you yourself (as the consumer) does anything that has to do with checking credit reports or requesting scores your credit score is not affected. The only time that it is affected when you do anything is when you apply for credit. If you dispute a charge and it is removed then your credit score will increase your score.

Also what are you disputing? Is it a late payment or over the limit, etc??? You may have to go through the creditor to have any extra fees etc. removed from your account. They cannot ignore your dispute if they do this is what you need to do:

Inform the creditor in writing about your dispute. Send all correspondence registered mail. If they don't respond again (within about 10 days) then you inform the CRA's and dispute the fees over-limit charges (whatever it is you are disputing). Let them know that you are getting no cooperation from the creditors on a dispute. You will get some answers within 30 days.

Answer 3

Under current (US) law and (UK) practice, a disputed charge gets a temporary credit. If nothing is shown as overdue on your bill, then your credit rating and scoring can only benefit.

You should always pay the minimum due on an account, if the credit card company is not showing the disputed credit, just to avoid problems like this. You can and will get the interest reversed later, and you will avoid penalties, etc.

I assume you have proof of the return. Take the name of everyone you speak to. Think of small claims court if all else fails. Keep copies of all correspondence; send it by certified mail.

Four months is too long. Write to the CEO of the bank at his home address. Your public library should have a directory of names and addresses of CEOs.

Answer 4

No, as long as you're allowing the credit card company to do the dispute on your behalf. Just make sure to get an update every month. If you can prove they received the item in good condition, the credit card company should just reverse the charge for you. What is the reason for them taking so long?

Answer 5

If this is an outstanding charge on your credit card, then yes, whoever issued the card can, and probably will, report it as at least slow pay. You, however, have the right to post a letter of explanation to whoever your credit record comes through. They are then duty bound to include that letter with any credit inquiry that comes in.

PS If you're doing something like making minimum payments or, if whatever payments you make exceed the minimum payment due as posted on your statement, you may not have anything to worry about anyway.

Answer 6

Call your credit card financial institution and inform them of the dispute. They can assist you to handle the issue properly.

Information about you and your credit experiences, such as your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical program, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points — a credit score — helps predict how creditworthy you are, that is, how likely it is that you will repay a loan and make the payments when due.

Because your credit report is an important part of many credit scoring systems, it is very important to make sure it’s accurate before you submit a credit application. An amendment to the federal Fair Credit Reporting Act (FCRA) requires each of the major nationwide consumer reporting companies to provide you with a free copy of your credit reports, at your request, once every 12 months.

To order your free annual report from one or all national consumer reporting companies, visit www.annualcreditreport.com, call toll-free 877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281. The form is at the back of this brochure; or you can print it from ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They provide free annual credit reports only through 877-322-8228, www.annualcreditreport.com, and Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281.

For more information, see Your Access to Free Credit Reports at ftc.gov/credit.

Answer 7

hi i'm not sure if you can claim 4 months later??? you'll have to check your credit card details fr that everyone is different. try contacting the watchdogs or something and report them. otherwise send them a recorded delivery letter saying that you ahve no other option but take them to small claims court/watchdogs etc and see what response you get

Answer 8

then you complain to the credit card company but it shouldnt affect it

Answer 9

Yes it does

Answer 10

no it will not. But if yoou do not pay a disputed amount it can .