I went over my credit limit, but due to a disputed charge - what now?

Question

I know, I know, bad bad bad.

Here's the situation:

I have been a good customer for over 10 years.

I have excellent credit.

I have funds to pay off the credit card and am about to (half now, half in January).

I have a lot of expenses in the summer, so my pattern has always been that I run the bill up in the summer and pay it off completely (half in fall and half after Christmas).

This is the FIRST TIME this has EVER happened, and it's by less than $100.

AND ***** I wouldn't have gone over if it wasn't for an incorrect charge.

SO....

1) Do I dispute the charge or ask the company that messed up to refund it (seems like a refund in the present would not address the overlimit issue but a dispute would)?

2) My agreement says default=any incident of going over the limit...is this kind of thing automatically triggered - am I better off not to bring it up before I pay off the balance?

Thanks :-)

Answer 1

Most credit card companies want you to try to contact the merchant to try to get a resolution before you file a dispute with the credit card company. Therefore, try to get a refund from the merchant first. If you don't get satisfaction from the merchant, call the credit card company and file a dispute. They will put a temporary credit on your credit card and will start an investigation of your claim. If the disputed charges caused the over the limit fee, they should credit your account for that too. After a certain amount of days, the temporary credit will become a permanent credit if the investigation results in being in your favor.

If you do get the merchant to cooperate and reverse the charges back to your credit card, call your credit card company and ask them to waive the over the limit fee. Most credit card companies will do this as a one time courtesy.

Going over your credit limit may raise your interest rate, especially if you have an introductory rate. If this is the case, you can certainly ask the credit card company to restore your original interest rate, but this will be much harder to accomplish than getting your over the limit fee waived.

Answer 2

Definitely dispute the incorrect charge with your credit card company by letter.

When your statement comes, you will get an over limit fee. Call and ask them to waive the fee due to the circumstances and because you are such a good customer. They will probably do so if you haven't asked before.

Just be sure to not go over the limit or be late because the second incident will trigger the default rate.

Answer 3

Call the credit card company immediately about this. Ask them how to rectify the problem. You will probably have to dispute the error in writing. Keep a record of all your correspondence until it is cleared up.

Answer 4

call your credit card company first. tell them that the charge was erroneous and you want to dispute it.
then ask them (nicely) if they could please waive the overlimit fee. They usually would give in when you ask nicely.