Originally published January 24 2005
You should check your credit card statement carefully now that the holidays are over
by Mike Adams, the Health Ranger, NaturalNews Editor
During the holiday season, many people work their credit cards pretty hard, but they do not check their statements to be sure that they are correct. This is a poor idea because, in the large number of transactions that happen in the month of December, a few mistakes can get lost in the shuffle. So check your statement, make sure that every charge is correct, and feel comfortable in the knowledge that you are not paying someone else's bill.
If you're one of those people who doesn't check your credit card bill very carefully, this is the month to change your ways.
January's credit card statements are usually packed with holiday purchases.
So full, in fact, that mistakes can easily get lost in the bill.
The good news is that it's fairly easy to fix those mistakes.
You take a cursory look at the items to make sure there aren't any massive purchases made in South America, and then you pay it.
If there is a mistake, you have 60 days to dispute it from the time you receive your statement.
That ability to dispute a charge makes credit cards a powerful consumer tool.
Not only can you dispute a mistake on your bill, but you can also file a dispute if you don't get the goods or services you were promised.
The company promised it would arrive in time for Christmas.
While the dispute is being investigated, you don't have to pay that portion of your bill.
If your credit card company denies your dispute, you have one last option.
You can appeal to the Office of the Comptroller of Currency.
A couple of years ago it helped return $6.8 million to customers whose disputes were turned down by credit card companies.
QUESTION: I have many large balances on my credit cards at high interest rates.
The fine print in most zero-percent card agreements typically says if you miss a payment or make a late payment, even just once, you lose the zero-percent deal.
Interest immediately applies to the full balance, and the penalty rate is usually very high, just like the ones you were trying to escape.
Also, many zero-percent offers charge a fee for transferring balances.
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