Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Fair Credit Billing Act shopping experience:

1. Compare - without doubt the biggest advantage that the Fair Credit Billing Act offers shoppers today is the ability to compare thousands of Fair Credit Billing Act at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.

2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about

3. Testimonials - don't know anybody that has bought a Fair Credit Billing Act? Wrong! If the Fair Credit Billing Act is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.

4. Questions - Got a question about Fair Credit Billing Act then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....

5. Reputation - Never heard of the company selling Fair Credit Billing Act? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Fair Credit Billing Act and build up a picture of their reputation for sales, returns, customer service, delivery etc.

6. Returns - still worried that even after all of the above your Fair Credit Billing Act wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.

7. Feedback - happy with your Fair Credit Billing Act then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.

8. Security - check for the yellow padlock on the Fair Credit Billing Act site before you buy, and the s after http:/ /i.e. https:// = a secure site

9. Contact - got a question about Fair Credit Billing Act, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.

10. Payment - ready to pay for your Fair Credit Billing Act, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.

The Fair Credit Billing Act (FCBA) is a United States federal law enacted as an amendment to the Truth in Lending Act (codified at et seq.). Its purpose is to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open end" Credit (finance) accounts, such as credit card or charge card accounts.

Examples of billing errors The following are examples of billing errors under the FCBA:

• Charges not actually made by the consumer
• Charges in the wrong amount
• Charges for goods not received by the consumer
• Charges for goods not delivered as agreed
• Charges for goods that were damaged on delivery
• Failures to properly reflect payments or credits to an account
• Calculation errors
• Charges that the consumer wants clarified or requests proof of
• Statements mailed to the wrong address

Correction of billing errors The FCBA allows consumers to dispute billing errors by sending a written notice of the dispute to the creditor. To trigger duties under the Act, you must send a written dispute via mail (US Postal Service) to the "billing inquiries" address on your credit card statement. This dispute must be received by the creditor within sixty days of the statement date on the account statement that first contained the billing error. This usually leads to a chargeback to the vendor.

After receiving notice of a dispute, the credit issuer must acknowledge the dispute, investigate the claim and, within ninety days, either make appropriate corrections to the account or send a letter to the consumer explaining why the creditor believes there was no error. If the creditor responds that they believe there was no error, the consumer can request copies of documentation supporting the validity of the disputed items.

Other regulations of the FCBA In addition to creating a mechanism for dealing with billing errors, the FCBA contains additional regulations, including the following:

• Billing statements must be sent at least fourteen days before the payment is due for credit accounts that have a grace period prior to adding finance charges.
• If banks report payments as delinquent to credit bureaus they must also report a charge is disputed.
• Credit card companies may not prohibit merchants from offering discounts to people who pay with cash or check.
• Banks may generally not use money in checking or savings accounts to pay a delinquent credit account with the same bank.
• The FCBA also gives a consumer the right to sue or assert defenses against the credit company (instead of the actual merchant) in a dispute about the quality of goods or services received, to the dollar extent of the amount of the charge(s) involved.

(The dollar amount of the charge must exceed $50, and the purchase must have been made in the consumer's home state or within 100 miles of their address (unless the creditor is affiliated with the merchant, in which case these restrictions do not apply). The consumer must also make a good faith attempt to resolve the dispute prior to invoking this right.)

Enforcement of the FCBA The Federal Trade Commission is the "overall enforcing agency" for purposes of administrative enforcement, though compliance by banks is enforced under section 8 of the Federal Deposit Insurance Act.

A consumer may also file a private lawsuit in any state or federal court with jurisdiction over the parties to recover actual damages, statutory damages of double the erroneous finance charge(s), and his or her costs and attorney fees (if the claim is successful). If the alleged unlawful conduct is widespread, the consumer can also seek to file a class action suit and seek damages up to $500,000 or 1 per centum of the net worth of the creditor.

Sources

• Full text of the FCBA in pdf format - Federal Trade Commission
• WikiSource:Fair Credit Billing Act - WikiSource
• Fair Credit Billing Act Definition Creditor Web

The Fair Credit Billing Act (FCBA) is a United States federal law enacted as an amendment to the Truth in Lending Act (codified at et seq.). Its purpose is to protect consumers from unfair billing practices and to provide a mechanism for addressing billing errors in "open end" Credit (finance) accounts, such as credit card or charge card accounts.

Examples of billing errors The following are examples of billing errors under the FCBA:

• Charges not actually made by the consumer
• Charges in the wrong amount
• Charges for goods not received by the consumer
• Charges for goods not delivered as agreed
• Charges for goods that were damaged on delivery
• Failures to properly reflect payments or credits to an account
• Calculation errors
• Charges that the consumer wants clarified or requests proof of
• Statements mailed to the wrong address

Correction of billing errors The FCBA allows consumers to dispute billing errors by sending a written notice of the dispute to the creditor. To trigger duties under the Act, you must send a written dispute via mail (US Postal Service) to the "billing inquiries" address on your credit card statement. This dispute must be received by the creditor within sixty days of the statement date on the account statement that first contained the billing error. This usually leads to a chargeback to the vendor.

After receiving notice of a dispute, the credit issuer must acknowledge the dispute, investigate the claim and, within ninety days, either make appropriate corrections to the account or send a letter to the consumer explaining why the creditor believes there was no error. If the creditor responds that they believe there was no error, the consumer can request copies of documentation supporting the validity of the disputed items.

Other regulations of the FCBA In addition to creating a mechanism for dealing with billing errors, the FCBA contains additional regulations, including the following:

• Billing statements must be sent at least fourteen days before the payment is due for credit accounts that have a grace period prior to adding finance charges.
• If banks report payments as delinquent to credit bureaus they must also report a charge is disputed.
• Credit card companies may not prohibit merchants from offering discounts to people who pay with cash or check.
• Banks may generally not use money in checking or savings accounts to pay a delinquent credit account with the same bank.
• The FCBA also gives a consumer the right to sue or assert defenses against the credit company (instead of the actual merchant) in a dispute about the quality of goods or services received, to the dollar extent of the amount of the charge(s) involved.

(The dollar amount of the charge must exceed $50, and the purchase must have been made in the consumer's home state or within 100 miles of their address (unless the creditor is affiliated with the merchant, in which case these restrictions do not apply). The consumer must also make a good faith attempt to resolve the dispute prior to invoking this right.)

Enforcement of the FCBA The Federal Trade Commission is the "overall enforcing agency" for purposes of administrative enforcement, though compliance by banks is enforced under section 8 of the Federal Deposit Insurance Act.

A consumer may also file a private lawsuit in any state or federal court with jurisdiction over the parties to recover actual damages, statutory damages of double the erroneous finance charge(s), and his or her costs and attorney fees (if the claim is successful). If the alleged unlawful conduct is widespread, the consumer can also seek to file a class action suit and seek damages up to $500,000 or 1 per centum of the net worth of the creditor.

Sources

• Full text of the FCBA in pdf format - Federal Trade Commission
• WikiSource:Fair Credit Billing Act - WikiSource
• Fair Credit Billing Act Definition Creditor Web