Are You a Victim of Credit Card Processor? Take These Initial Steps

Before shopping online, check the parentage of the credit card processor, whether it has security systems in place and the guidelines under which it operates. Does it comply with federal regulations or other such regulation where the card processor is obliged to redress your grievance in a time bound manner? However, despite the precautions taken, complaints of wrong billing, undue freezing of accounts, double charging, illegitimate charge backs or illegitimate denial of charge backs abound against most credit card processors.

In most online transactions, the amount may not be sufficient to justify the hiring of an advocate. Therefore, you have to take some steps on your own only. If you are a victim of any such credit card processor, please raise your voice and start taking these initial steps.

1. Report the fraud to your credit card issuer immediately over telephone and note down the time of call and reference no if any given by their helpline. Most card issuers insist for reporting of such complaints with in 60 days. You can also lodge a complaint using their toll free number and retain references of any complaint number that they give you. This would come handy in case the card issuing company fails to redress the problem. Slipping the reporting period as laid out by your credit card issuer would substantially weaken your case.
2. Thereafter, immediately contact the credit card issuing company to request a dispute form. Depending upon the card company, the time allowed to lodge a dispute may vary but generally it is up to six months. In case of genuine complaint, where card issuer does not address the problem in time, card issuer may be forced to take the loss and reverse the charges.
3. You can also inform the card issuer that in event of their failure to respond, you reserve the right to approach media, both printed and online, to highlight your complaint against the credit card issuer and credit card processor.
4. Search the net for complaints filed against the processor and prepare your arguments highlighting the inherent weaknesses in the provider's services. Try looking for complaints similar to your experience. Submit this detail to your card issuing company.

These are some of the initial steps that one is advised to take. In some extreme cases involving high amount or complexities, there could be requirement of hiring an advocate, but if you have taken these steps, this may help your advocate strengthen your case.

Even if you don't get your money back, don't hesitate to lodge complaints and voice concerns. As the complaints would pile, the authorities would have to take notice or the credit card processor forced to change their tactics. Remember, this action of yours can save some other person from getting cheated.