If a consumer loses in a dispute, would that affect his /her credit?

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cathy
 
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If a consumer loses in a dispute, would that affect his /her credit?

Postby cathy » Fri Oct 11, 2013 6:59 pm

I disputed charges from one online store and the bank gave me a credit back to my account. And I got a letter from the bank saying that the dispute has been resolved for now but, the merchant still can review the info. that I sent them and refuse it. Then they are going to re-investigate the transaction. That's fine. But, if the bank rules in favor of the merchant for any reason and reverse the amount, would that affect my credit in any way? Are they going to charge me a charge back fee for that? What's going to be the next procedure?


DoingHomework
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Postby DoingHomework » Sun Oct 13, 2013 8:09 pm

Losing a dispute should not damage your credit. The merchant might try to charge you a charge back fee but I don't think that is allowed under merchant agreements. If they try that then contact your card issuer.

benhollberg
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Postby benhollberg » Mon Oct 14, 2013 5:56 pm

Is there any negatives to disputing things, as far as losing a dispute? I reason I ask is because I went to a party the other day and payed, they told me it was $15, payed with my AMEX Platinum. However now looking online they charged tax on top of that, which was only another $1.03 but still the girl I payed specifically said $15, also my friends who paid cash only payed $15, I asked them about that. I did sign for it, it was on a cell phone run through Square but I didn't notice they charged tax until I looked at my account online a few days later. Would this be worth trying a dispute? I mean $1.03 isn't much but I just don't like that I was charged more than I was told and that my friends who payed cash were not charged tax.
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Postby travisrauh » Mon Oct 14, 2013 6:16 pm

@benhollberg - We can set up a billing inquiry for that difference if you so wish. There is no risk for you to do so. You may either do it online by clicking the transaction and selecting "Dispute/Inquire about this charge" or by phoning the number on the back of your card.
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Postby takeshi » Tue Oct 15, 2013 9:48 am

cathy wrote:If a consumer loses in a dispute, would that affect his /her credit?

Nope. Charge disputes don't factor in. See also:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

The only affect on credit is whatever impact there is on utilization from the charge.

benhollberg wrote:Would this be worth trying a dispute?

Worth is always highly subjective regardless of topic and we can't tell you if it's worth it to you or not. It wouldn't be worth it to me. The amount should have been indicated when you approved the charge.

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nismoZtuner
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Postby nismoZtuner » Tue Oct 15, 2013 12:49 pm

i think they try and charge you(customer) the fees they (merchant) will be charged for swiping the card.

when my brother and I went for a hair cut about 3 days ago he was charged $10 in cash and i was charged $11 for using the card :/
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benhollberg
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Postby benhollberg » Tue Oct 15, 2013 11:12 pm

nismoZtuner wrote:i think they try and charge you(customer) the fees they (merchant) will be charged for swiping the card.

when my brother and I went for a hair cut about 3 days ago he was charged $10 in cash and i was charged $11 for using the card :/


In my case I am not sure, $15 was supposed to be the total, the retail sales tax in Utah is 6.85% bring the charge to $16.0275 or $16.03. That large of a merchant fee would be crazy, I know I certainly don't pay that much, not even for AMEX.
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