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When a credit card purchase or billing issue is problematic, you may request a chargeback from your card issuer—in other words, ask them to refund the charge on your account. But if the issue resolves after you have already initiated a chargeback, it is possible to cancel cancel the chargeback. This may be preferable for both you and the merchant.
Here's what to know about canceling a chargeback request on your credit card account.
What Is a Chargeback?
Chargebacks are charges returned to your credit card account when you dispute a transaction with your card issuer. These are returned to you by your credit card company at the expense of the merchant you were trying to purchase from.
You may dispute a transaction for several reasons, including:
- Fraudulent purchases on your card
- Incorrect purchase amount
- Merchant or vendor has not followed through on service
Chargebacks can be an important tool to protect yourself financially from fraud, human error and uncooperative merchants. But they are typically a last-ditch effort to recoup your funds. Chargebacks can cause serious issues for merchants and take a long time to process the return of your money.
If you've exhausted other resources and decided to request a chargeback, you can do so by:
- Reaching out to your credit card provider. Many providers have options to do so online, over the phone or by mail.
- Detailing the events leading to your request. Also, provide your contact information, account information and any documents like receipts that provide evidence of the issue.
- Waiting for a resolution. Chargebacks are not instant and can take up to 90 days to resolve. In the meantime, your credit card bill may be due. You should pay your bill as normal. Any refunds related to the chargeback can be issued later.
Though waiting for a chargeback can be a long process, it is sometimes the best option to get your money back. But what happens if the issue resolves itself after you request a chargeback? You have the right to cancel the chargeback with your credit card issuer.
3 Steps to Cancel a Chargeback
Chargebacks can take up to 90 days to be resolved. If your issue stemmed from problems with a merchant, and the merchant helps you resolve the problem before your account is credited, you can cancel the chargeback with your card issuer. Many merchants will work hard to avoid a chargeback, as they not only lose out on your sale but are also charged a fee, usually between $20 to $100.
If you and a merchant reach an agreement or you simply decide to cancel a disputed transaction, follow these steps to end the chargeback process:
- Confirm your resolution with the merchant. Try to get confirmation in an email.
- Contact your card issuer or bank to request a cancellation. Some online accounts may provide an option to cancel the chargeback yourself.
- Wait and verify that the chargeback has been processed and the merchant was paid as agreed.
Canceling a chargeback may be a courteous thing to do if a merchant is willing to be flexible with you. Doing so may help you get money back faster directly from the merchant rather than waiting out the whole dispute process.
Other Ways to Resolve Billing Issues
Not every incident with a store or service provider will merit a chargeback. It's best to leave a chargeback as a last-resort option when communication has broken down with a vendor.
First, try some of these other ways to resolve transaction or billing issues:
- Check your receipt at the time of a transaction to make sure it is correct.
- Escalate return concerns to a merchant's supervisor. Politely dealing with higher-ups will often help you get the best resolution, even if it takes some time to get in touch with them.
- Do your best to protect yourself from fraudulent charges on your card, including:
- Using secure internet connections for transactions
- Using strong passwords
- Not storing things like your credit card numbers in your browser
From simple mistakes to targeted fraud, billing issues can be stressful as you attempt to recover your funds. Being patient and polite—but persistent—as you move through the process your card issuer or a merchant has in place to handle disputed payments can help make sure your request is handled as quickly and reasonably as possible.
The Bottom Line
If you've recently gone through a chargeback or dispute process that left you unhappy with your credit card's customer service, it may be time to look at a new card and credit provider. But applying to too many new cards could hurt your credit score.
Compare offers with confidence when you use Experian's CreditMatch™. You can get matched with credit offers based on your credit profile, meaning you have better odds of approval.