Stopping payment on a credit card is called a chargeback. Cardholders have the right to charge back a purchase under certain circumstances. A chargeback is different from stopping payment on a check. Even if the merchant has received the money, a chargeback can still be processed.
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A chargeback can be pursued if merchandise is damaged or of poor quality. Your first step would be to take the merchandise back to the store and request a refund or store credit. If this is unsuccessful, contact the credit card company to charge the sale back to the merchant through the merchant's bank.
Merchandise Not Received
Merchandise purchased online or by mail should be received within the retailer's stated shipping time. If not, you should contact the merchant. If this direct contact is unsuccessful, or the merchant does not send the merchandise promptly, contact the credit card company. The sale can be charged back through the merchant's bank.
Transactions Not Authorized
Credit cards are used for purposes other than purchases, such as reserving a hotel room. Retailers who use credit card numbers for this purpose are not allowed to charge the credit card until a purchase has been authorised by the cardholder. Any unauthorised purchases should be charged back to the merchant immediately. In this case, it is not necessary to contact the merchant first, but it may be advisable because it might have been an honest mistake. In other cases, however, the transaction may be fraudulent and you should report it to the credit card company immediately.
A merchant is responsible for verifying that a sale meets the customer's satisfaction. When a credit card is used, the merchant understands his responsibilities to process all sales in good faith. Therefore, he must post return policies and resolve customer dissatisfaction issues. In addition, merchants are responsible for ensuring that credit cards are authorised properly, which requires swiping the card through a merchant terminal, verifying that the credit card number on the receipt matches the same on the front of the credit card, and comparing the customer's signature to that of the credit card. Merchants are assessed between £6 and £16 when a sale is charged back.
Transactions Not Applicable
Most credit card companies have a zero liability policy, meaning that the cardholder has no liability when her credit card is used without authorisation. However, if the credit card company finds, upon investigation, that the cardholder improperly allowed an authorised party access to her credit card, the cardholder may be required to pay the transaction. In addition, if a merchant has attempted to resolve a return or refund within the guidelines of the credit card company, the cardholder may not have the right to charge it back.
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