Monday, August 24, 2015

Look over your credit card statements carefully

This is a lesson all credit card users need to learn. Before you pay the balance or part of the balance every month, please go through the items. And go through the items carefully.


Seven years ago, my credit card carried a nine-dollar charge for a highway toll in France. On the date the toll was incurred, I had returned to Chicago from Paris. Marriott Courtyard charged me for a breakfast (Pasadena, California )  after I had left a hotel. Marriott charged me for a movie I did not watch in my room. Radisson in (Stockholm, Sweden) charged me for a bottle of wine (in the mini fridge) that I did not consume.


These are not mistakes or cases of  oversight.  I strongly believe that this is a pattern. These (fraudulent) charges are inserted in your card statement. There are many who pay the amount without checking the charges. If one cardholder out of 100 pays this charge, it is money that these businesses get without providing the service.


In my July Chase Explorer Card statement, there was a $24.95 charge for a Time Magazine renewal. When I asked for a Time (12 months) subscription in July 2014, I used my Explorer card. As a matter of principle, I do not opt for automatic renewals.


I disputed the charge with Chase. My daughter (in Redmond, Washington) called Time and asked that the subscription be cancelled. She was told that it had been done and that the credit card will be notified.


In the August statement, a $24.95 charge for Time has appeared. I disputed the charge with Chase.


I went to the TIME webpage and canceled the subscription. I wanted an explanation why a second charge is in my statement after the subscription had been canceled.


I am awaiting TIME’s reply.


The point is that any merchant can put in a charge. It, then, becomes your headache. Same thing with US credit reports. Any Tom, Dick or Harry can put in a negative item. You have to fight it.


All businesses indulge in this nefarious practice. Please look over the items in your monthly statement.


1 comment:

  1. It has always been frustrating to me that a charge hits the account almost instantly whereas a credit takes days if not weeks to post. Unfortunately we are the mercy of the credit cards. It is very frustrating. Your posting reminds all of us to carefully look at our statements!