Nov 13, 2017 | Melanie Mathis |
How To Stop Recurring Credit Card Charges BY: www.newhorizon.org The autopilot mode is efficient when it comes to paying your monthly bills. As a consumer, you will never miss a payment. Another advantage with auto-payments is that you can get a deduction on interest rate when applying for loans. Merchants get to benefit too since they are guaranteed of timely payments. However, there are times you when your vendor will continue to bill your account even after you have unsubscribed from the service. Ways you can to stop recurring credit card charges Some companies may include in the contract that you call a non-800 number if you wish to cancel your subscription. Sometimes when you call the number given, your call can remain on hold for 30 minutes. The contract may also indicate that you the only way to stop the recurring charges is through writing. This is a strategy to delay the process. Read and understand the contract If you come across such terms when reading the contract, do not set up your credit card bills on auto pilot with that company. Contact the billing department Contact hem in writing by sending a "revoking authorization" letter to the billing department. Make it clear you want them to cancel the auto payment service. It can take almost three weeks before your request goes through. Don't forget to use Certified Mail, Return Receipt when sending your letter. You will have proof that they received your letter. The billing company should comply when you send your letter via certified mail return. Contact your credit card provider If that does not work, another option is disputing the issue with your credit company. Inform the credit card company that you have revoked your authorization with the billing company to stop automatic payments. First, you can phone your credit card company and then send them a follow-up letter. Send a "stop payment order" to your bank Instruct the bank not to allow your credit company to deduct money from your bank account. For instance, if you want to cancel the next schooled payment, send your stop payment order letter beforehand. The letter should reach your bank at least three business days before the scheduled payment date. Other than writing, you can choose to call the bank or deliver the order personally. However, if you wish to halt future payments altogether, you might want to do it in writing. The banks may request you provide a written order. Ensure that you have submitted this document within 14 days. Also, attach a copy of the revocation letter you sent to your credit company when sending the order. Monitor your accounts Watch the activities of your account. Sometimes you can come across a payment that you never authorized. Also, the unsecured credit cards for bad credit charges may continue even after revoking your authorization. If you notice either of these red flags, notify the bank immediately. Under the Federal law, you have a right to file a dispute and claim your money. Switching to a different card You can stop the auto-payment by closing that credit card and switching to another. The risk with closing your account is that you can accumulate more debt. The billing company can approach the bank arguing that you signed a binding contract. Based on this new info, the banks may bill you. FOR MORE TIPS ON HOW TO MANAGE YOUR CREDIT CARD visit https://www.newhorizon.org Looking for unsecured credit cards for bad credit? Apply here https://www.newhorizon.org/Info/unsecured.htm
The autopayment mode is efficient when it comes to paying your monthly bills. As a consumer, you will never miss a payment. However, there are times you when your vendor will continue to bill your account even after you have unsubscribed from the service. Here are ways you can to stop recurring credit card charges.
For more tip on how to manage your credit card visit https://www.newhorizon.org/info/
Looking for unsecured credit cards for bad credit? Apply here