Having Trouble With Your Credit Card Company?

There may be a time in your life where something involving your credit goes wrong. It may be a purchase that didn’t pan out or perhaps a credit card company billed you incorrectly on one of your statements. In any scenario, the important thing is that you take the right steps to get the problem sorted out. As a rule of life, people make mistakes. As a rule of business, what the company does to correct it and prevent it from happening in the future is what matters.

Here are some tips for dealing with a creditor that has caused a problem with your account:

The first step in any scenario is to head straight to the issuer. You will likely first speak with a customer representative. If that representative is any good at their job, they will be courteous and willing to help, even if they are not able. Explain the issue clearly and without anger, no matter how it is you really feel. If the customer representative is not helpful or becomes rude in any manner, ask to speak to their immediate supervisor or someone higher.

Remember always to have a pen and paper on hand when you call. Noting dates, times, names, titles and details of the conversation will help you not only remember what happened, it will also be the start of documenting your correspondence should you have to reach beyond the credit card company to resolve the matter.

Once you have reached a supervisor or manager, re-explain the situation and ask what can be done to correct it. If the supervisor is supportive and willing to help, take note of what the resolution is and what obligation you have to make the corrections. For any resolution decision, request a written confirmation from the credit card company that states the date and the specifics of the steps to be taken. Should the supervisor not be willing to help, keep your cool. While you are likely to be frustrated, you must keep your head on straight and be professional. If the supervisor becomes belligerent, simply hang up.

Make your case in writing, including the response you got from the credit card company when you called. Send the envelope certified and request verification that the letter was delivered. If you do not hear back from the company within several weeks of sending, you can try contacting the company again or take other action, including contacting the Better Business Bureau as well as the credit reporting agencies if the incorrect information was being reported back to your credit history. Both places will allow you to file a complaint.

Outside of the creditor and the other agencies, you can take your case to another level by contacting the following agencies:

National Credit Union Administration – regulates national credit unions that issue credit cards to consumers. Any credit union with “federal” in their name or those located in Delaware, Washington DC, South Dakota, or Wyoming.

Federal Reserve – regulates any bank that is a member of the Federal Reserve System and some of the state banks.

Federal Deposit Insurance Corporation (FDIC) – they will take any kind of consumer complaint that involves a FDIC insured bank or institution.

Again, it is important to make your case as professionally as possible and in the right order. Most complaint issues that are true mistakes on the part of the creditor will likely be handled fast and in a professional manner as businesses big and small work hard to maintain customer satisfaction levels. Consider the end scenario too. Do not rush to close the account in haste as doing so can harm your credit worthiness. Shop for a new credit card if you must but don’t jump the gun and make a bigger problem for yourself.

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This entry was posted on Thursday, August 27th, 2009 at 8:27 am and is filed under Card Security, Tips & Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.