Fair Credit Billing Act. Federal law giving rights to consumers when an error occurs on their credit card statement. Consumers have 60 days to report the error after they are mailed the bill. Companies must then correct the mistake within 30 days, and must then correct the error within 90 days or explain why it believes the credit card statement is valid.
Fair Credit Billing Act. Fair Credit Reporting Act (FCRA)
Fair Credit Billing Act. A federal law that regulates credit card error resolution. Among other stipulations, the FCBA limits consumers' responsibility for unauthorized charges to $50.
Fair Credit Billing Act. A federal law that offers protection against billing errors (including limiting your liability for unauthorized purchases), and may help you to reverse the purchase of inferior goods or services charged to your credit card. Back to Glossary Index
Fair Credit Billing Act. A federal law that provides a specific error resolution procedure to protect credit card customers from making payments on inaccurate billings.
Fair Credit Billing Act. Stands for the central law that arms you with the right to question any mistake in your credit card statement. You need to inform your credit card company within 60 days of the receipt of the bill. The company is responsible to either correct/acknowledge your bill within 30 days of complaint. It must be corrected within 90 days.
Fair Credit Billing Act. A federal law that gives you rights when an error occurs on your credit card statement. You must notify the credit card company of the mistake within 60 days after it mailed the bill to you. The company must then correct the mistake, or at least acknowledge receipt of your letter within 30 days, and must correct the error within 90 days or explain why it believes the credit card statement is correct.
Fair Credit Billing Act. Procedures for promptly correcting billing mistakes, refusing to make credit card payments on defective goods, and promptly crediting payments.
See Fair Credit Billing Act.
