How to Dispute Stolen Credit Card Transactions in Five Minutes or Less
Credit card theft is on the rise, with merchants reporting that 33% of their losses in 2020 came from processing stolen credit card transactions.
There is nothing worse than finding out you have become a victim of credit card theft. That is until you notify the bank, only to discover fraudulent charges have already occurred. Panic inevitably sets in.
Not many people know how to because it is a complicated process.
DoNotPay has created a product that can immediately dispute fraudulent transactions directly from your web browser. It turns an already stressful situation into a quick and easy process.
We can show you how to dispute stolen credit card transactions in five minutes or less, helping to get back your money fast, so you can get back to enjoying life and forgetting about the whole awful experience.
How to Dispute Stolen Credit Card Transactions on Your Own?
According to the Fair Credit Billing Act, consumers have 60 days to dispute any unauthorized charges. If you don't dispute stolen credit card transactions within the allotted time frame, you will be responsible for the entire amount of the fraudulent charges.
Several steps must be taken to dispute stolen credit card transactions on your own, often proving to be frustrating and time-consuming.
- Notify the credit card issuer of suspected fraud using the automated toll-free phone number located on the back of your credit card.
- The voicemail system will prompt you through various options, eventually connecting you to a fraud department representative.
- The credit card issuer will open a fraud case to investigate the disputed transactions.
- You will be asked to provide any available evidence to support your claim.
- Pending further investigation, the account will be closed. You will typically be issued a new account number, and a new card will be sent to your home address.
How Long Will It Take to Get Reimbursed for Disputed Stolen Credit Card Transactions?
The bank has 30 days to acknowledge they have received a fraud complaint. They must complete the investigation within two billing cycles. While the case is pending, most banks will remove the charge from your account and redeposit your hard-earned money back into your account within several days.
During the dispute process, the bank cannot charge interest, report non- payment to credit bureaus, or attempt to collect payment for the disputed transaction.
Once the claim is processed and approved, you will be released from all obligations to make payment for the disputed stolen credit card transaction. The refund is fully yours!
Issues You Might Encounter When Disputing Stolen Credit Card Transactions
If the credit card issuer denies the claim, the entire amount of the disputed transaction will appear on your next bank statement. You will be responsible for the payment of the charge.
Credit card companies must let the cardholder know in writing why the issue was denied and provide information on how to appeal the decision.
There are several reasons a dispute for stolen credit card transactions could be denied:
- The charge was made by an authorized user, regardless of whether you knew of the transaction.
- Supporting evidence requested by the bank was not provided.
- A request to dispute stolen credit transactions was received more than 60 days after the date of the fraudulent charge.
You have a right to appeal the credit card issuer's decision. If it is not reversed in the appeals process, you can file a complaint with the Consumer Financial Protection Bureau. A lawyer may also be able to help, but the cost will most likely be prohibitive.
How to Dispute Stolen Credit Card Transactions With DoNotPay?
The Fair Credit Billing Act limits the liability for stolen credit card transactions to $50, as long as the theft is reported and proper steps are taken to dispute the fraudulent charges. Some banks have a zero liability fraud policy.
DoNotPay can start the dispute process any time of day or night. You can easily in less than five minutes, ensuring your bank is immediately notified of the fraudulent activity. Best of all, your credit card issuer will receive all the necessary information for further investigation.
Easy to Use Step-By-Step Process to Dispute Stolen Credit Card Transactions
- Open DoNotPay on your web browser.
- Select the "File a Chargeback" feature.
- Provide your bank details to our chatbot.
- Enter relevant details of the stolen credit card transaction (charge amount, date, and description).
- Let DoNotPay guide you through the process of building up your case.
What Happens When You File a Stolen Card Report and Dispute Transactions?
Once we receive the request to dispute bank transactions, the pertinent information is automatically faxed to your bank. DoNotPay also sends a dispute letter with all the necessary Visa and MasterCard codes to help win your case. We can also gather evidence on your behalf to further support the claim.
What Else Can DoNotPay Do?
DoNotPay will help you dispute stolen credit card transactions in less than five minutes. If a company declines to issue a refund, use DoNotPay to get a chargeback on the transaction. We can help with chargebacks such as
- Zelle chargeback
- Amazon refund without return
- Cash app refund
- Doordash refund
- Vanilla gift card refund
- Lyft refund
- Plane ticket refund
- PayPal friends and family refund
There are also a ton of other great features to help you. DoNotPay can show you:
- How to use virtual credit cards for free trials
- How to dispute credit card charge online scam
- How to file a dispute with your bank debit card information stolen
DoNotPay can also help answer some difficult questions, such as:
- Can I dispute a bank transaction I approved initially?
- What are my rights when I report fraud for a purchase I made, but the bank denied my chargeback?
- Can Visa chargeback an online transaction when a stolen card was used?
DoNotPay has the answers and it is accessible directly from your web browser. You can in one easy process. Protect your finances and get back the money that is rightfully yours.