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| Name | What’s a Chargeback? | Discover | Card Smarts |
| Video Uploader | Video From Discover |
| Upload Date | This Video Uploaded At 08-11-2019 10:17:34 |
| Video Discription | A credit card chargeback occurs when a credit card issuer requires a merchant to refund a charge, instead of the customer requesting the refund. A credit card chargeback can protect consumers from errors caused by merchants, like multiple charges for the same purchase, or selling defective products. A credit card chargeback is also useful if there is a dispute between cardmember and merchant; the card issuer can initiate a chargeback as a refund. Related Links: https://www.discover.com/credit-cards/card-smarts/a-foolproof-guide-to-disputing-a-charge-on-your-credit-card-statement/ https://www.discover.com/credit-cards/ https://www.discover.com/credit-cards/card-smarts/ Credit card chargebacks are a way your credit card issuer protects you as a consumer. Chargebacks help consumers get their money back during disputes with merchants. Chargebacks look like refunds on credit card statements, but are issued directly from the credit card company, not the merchant. Chargebacks can be applied to fraudulent credit card charges, billing issues, or when a customer is unhappy with the purchase, if the merchant is unwilling to provide other options or is unresponsive. For example, if a merchant sells you goods that are damaged, your credit card company can run a credit card chargeback to get you a refund. You usually receive the refund once the merchant returns the funds to the card issuer. So, chargebacks help you avoid paying fraudulent charges. Chargebacks are an important feature provided by credit card issuers that safeguard cardmembers from dishonest merchants. Through a credit card chargeback, a cardmember can submit a dispute to their credit card company. The card issuer reviews the dispute and any documentation provided and may contact the merchant or other organizations for more information. The card issuer then determines who is responsible for paying for the transaction. Chargebacks are an important defense for cardmembers against deceptive merchants. However, chargebacks should only be used in just and relevant situations, since merchants can also dispute chargebacks which could have legal implications. Other related videos: What are Credit Card Interest Charges - https://www.youtube.com/watch?v=Gx-_5Dr9YA4 What is an Annual Fee- https://www.youtube.com/watch?v=zgqvuyANSo0 Subscribe to our channel and follow us here: Facebook: https://www.facebook.com/discover Instagram: https://www.instagram.com/discover Twitter: https://www.twitter.com/discover #chargeback, #chargebackpayment, #Chargebacks, #chargebackfraud, #chargebackdispute, #chargebackprocess, #typesofchargebacks, #chargebackprevention |
| Category | People & Blogs |
| Tags | chargeback | credit card | personal finance | Discover |
