Disputing Credit Card Charges

By Amy E. Feldman

PHILADELPHIA (CBS) - How do you dispute a charge on your credit card?

A Houston businessman was sued by a strip club after allegedly racking up over $300,000 worth of charges in one month on his employer's credit card, and then later claiming that there had been fraud on the card so the charges would be reversed.

Is it actually that easy? (Um. Not racking up $30,0000 at a strip club. The ease of getting a charge reversed.)

There are three basic reasons you can get a charge reversed: if the charge was fraudulent (like identity theft), if there was a billing mistake (you were charged twice), or if the goods or services were substandard.

If someone steals your card, you are only liable for up to $50 if you report it within two days of learning it's been stolen.

For a billing error, you have to file a complaint within 60 days of receiving your bill with your name, account number, and details of the issue. The credit card company has 90 days to investigate. They may remove the charge pending their investigation but then can put the charge back on if they find in favor of the merchant.

Claims for substandard goods or services are based on state law, and can be complicated. In all cases, it's in your best interest to negotiate with the vendor over the charge once it's on your bill, or - to prevent the problem in the first place - keep it in your pants. The credit card that is.