Credit Card Stop Payment

If you’re thinking that credit card stop payment means that you’ll stop paying for your bills, absolutely not.
You can’t stop paying for your credit card bills unless you cancel your card. However, you can stop payment on certain purchases and services that you filed a complaint about.

Unfortunately for online purchases, once you’ve entered your credit card number and authorized the payment, the transaction is processed instantly. There’s now no way for you to make a credit card stop payment action. However, in certain cases where, for example, the company withheld important information before asking for your credit card number, a dispute can be made. Credit card dispute can actually be filed under two conditions: unauthorized use of your credit card and error in your billing statement. Examples of disputable conditions include: credit card use by hackers and identity thieves, two bills for the same item, bills that are more than the agreed amount, mailed merchandise that never arrive, unauthorized billing by merchant, purchased goods were returned for low quality or defects, the wrong type of merchandise was sent, and services agreed upon between consumer and merchant were not completed. In cases like these, you are protected by the Fair Credit Billing Act. You can write a letter of dispute to the credit card company within sixty days of the bill’s arrival.

The Fair Credit Billing Act also gives you the right to withhold payment on items in dispute. Credit card stop payment is actually a powerful method that you can use when you are dissatisfied with purchases you’ve bought through a credit card. However, there are certain steps that you need to take to make credit card stop payment legal. First, you should file a complaint about the goods to the merchant. If the issue is still not resolved between the two of you, you can then notify the credit card company that you are withholding payment on the purchase. Giving notifications for credit card stop payment will actually work to your advantage since the disputed amount cannot be reported as delinquent to a credit bureau until it is settled.

Credit card stop payment, however, is limited to certain things. First, the goods should cost more than 50 dollars. Second, the goods should have been bought within a hundred miles of your mailing address or within your home state. These rules on credit card stop payment, however, do not apply to goods and services purchased through credit cards issued by the merchant or to purchases made through advertisements mailed by the seller to you.

Credit card stop payment is a legal move and is one way to enforce your right as a consumer.


Source: Credit Cards For People With Bad Credit Rating

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