What happens in case of a Disputed Credit Card Transaction - HotUKDeals
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What happens in case of a Disputed Credit Card Transaction

SanjayShetty Avatar
8y, 6m agoPosted 8 years, 6 months ago
Just trying to understand this -

Say i order an item from a web retailer (price over £1000) and if they dont deliver within 30 days & as per the credit card guarantee i get to apply for a refund ... against disputed transaction ...

Does that mean the retailer never gets the money??? Or is it that the credit card company insurer gets it from the retailer and the credit card company pays back ??? How does it actually work ?? Any comments? Who finally pays for it ??

Also, since i dont pay by the due date being a dispute does my credit history get affected ? Is there any way to mend it on the credit file?
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SanjayShetty Avatar
8y, 6m agoPosted 8 years, 6 months ago
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#1
Do you really care if the retailer get the money back, Actually the credit card company will try to get the money back from the retailer by itself, so who cares. About your credit history you have to make it clear to the CC company that you are not happy for not getting the item you paid for and that you dont expect to pay for an item you did not receive, am sure you can come to a sort of agreement.
banned 1 Like #2
The credit card company will refund you, and reclaim it from the retailer. The retailer will lose (well he won't if he never sent the item!).

Thats assuming it should be delivered in under 30 days.
#3
colinsunderland
The credit card company will refund you, and reclaim it from the retailer. The retailer will lose (well he won't if he never sent the item!).

Thats assuming it should be delivered in under 30 days.


This is correct. You should still make the payments on the card until the matter is resolved or you will have defaulted and as such it will affect your credit rating.:thumbsup:
#4
colinsunderland
The credit card company will refund you, and reclaim it from the retailer. The retailer will lose (well he won't if he never sent the item!).

Thats assuming it should be delivered in under 30 days.


Very true ...No one really loses except all the hassles i wil have to go through ..
#5
jtx
This is correct. You should still make the payments on the card until the matter is resolved or you will have defaulted and as such it will affect your credit rating.:thumbsup:


You mean the minimum payment or the full .. i thought if you pay the full amount of disputed transaction means you accept the transaction was OK,
1 Like #6
i used to work for credit card customer services (lloyds tsb) and there if you disputed the amount it was frozen on the acct so you didnt have to make payments and it didnt build up interest and didnt affect your credit rating, it can take up to 4-6 weeks to resolve they will contact the company and try and claim the money back or proof that the item was sent but one way or another if there no proof you will get your money back thru the credit card company
#7
onlyme23
i used to work for credit card customer services (lloyds tsb) and there if you disputed the amount it was frozen on the acct so you didnt have to make payments and it didnt build up interest and didnt affect your credit rating, it can take up to 4-6 weeks to resolve they will contact the company and try and claim the money back or proof that the item was sent but one way or another if there no proof you will get your money back thru the credit card company


Very clear explanation ... this is exactly what i was looking for ... Thanks mate ..
#8
SanjayShetty
Very clear explanation ... this is exactly what i was looking for ... Thanks mate ..


welx glad it helped :thumbsup:
#9
onlyme23
welx glad it helped :thumbsup:


Cheers:thumbsup:

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