Credit Card Dispute: The Rules, The Process & Your Rights

There’s no guaranteed way of how to win credit card disputes, but understanding the process may help your odds.

What is perhaps the most important credit card benefit is your protection against unauthorized and fraudulent purchases. Over the years, I can’t even count the number of times a dispute has saved me (many!). Below we will go over some very important things you need to know about disputing a credit card charge.

Know the difference between “billing errors” and “disputes of quality.”

It’s very important to understand that these are two totally different things and

Read more »

What is the security code on a credit card & why is it needed?

If you look where it’s located, you will see that the security code is printed (not embossed) on your credit card.
American Express

You will find the code on the front. You will usually find it on the right side, but on some of their credit cards it might be on the left. It is a 4-digit number and sometimes referred to as the CID or “unique card code.”



Visa, MasterCard, and Discover

 
It’s on the back of the card. The security code’s location is always on the right. Sometimes it is within the signature box and other times, there is a separate box just for the code. Either way it’s always the 3 digits furthest to to the right. For Visa this is called the “CVV2″ and MasterCard it’s the “CVC2.” Discover calls theirs “CID.”

 

How do they protect you?

When you use your card in-person and swipe it for a purchase, the security code on the credit card is usually not involved (though some stores like Sears do choose to use it even for in-person transaction). The only data that is being transmitted is your account number, expiration date, and name on card.
On the other hand, if you are trying to make a “card not present” purchase (such as over the phone or internet) then the card’s security code

Read more »

Chase Ink Business Credit Card Review

     

You’ve seen the commercials but is the Chase Ink card really as good as they say? Here’s what you need to know…

To be honest, when the Chase Ink credit cards first came out I was pretty skeptical – Are their rewards and benefits truly better than the other guys? After thoroughly researching them, I can conclusively say they are the best. But don’t take my word for it, take a look for yourself…

Chase Ink can help you build credit, most business cards can’t…

Did you know that most business credit cards do NOT report your account history – neither to the big 3 credit agencies, nor the leading business credit agency Dunn & Bradstreet? That means most are worthless for building credit.
I found this out the

Read more »

Ink From Chase Jot App Review

Attention business owners: Don’t you just hate accounting? As an owner of two small businesses myself, the one thing I dread the most are the accounting tasks. Not because they are hard, but simply because they are so time consuming. I consider them a distraction from the real work.

The Chase Jot app = time saver

Will this nifty little app solve all your accounting headaches? Definitely not. However, what it will do is save you an immense

Read more »

Bed Bath and Beyond Credit Card Review

Last week when I was buying a new coffeemaker the cashier asked “Would you like a Bed, Bath and Beyond credit card application? It gives great rewards!” This surprised me, because I wasn’t even aware they had their own credit card! Personally, I rarely shop at this store so I knew right off the bat this card is not for me. But would it be a good choice for you? Let’s take a look at its pros and cons.

The basics

Issuer: U.S. Bank
Payment Network: MasterCard
Annual Fee: none
Most store cards are not

Read more »

American Express Prepaid Card Review: The Good, Bad, & Ugly

  
In June 2011 American Express launched a prepaid card. I’ve noticed many hailing it as their first prepaid card, but actually there’s the AmEx Pass that’s been out for a while now, although that is mainly geared towards teens.

Is it a debit or credit card?

American Express prepaid credit cards? Or debit cards? Actually… neither! Since this new card doesn’t allow you to buy anything on credit, it’s definitely not a credit card. Most stories I’ve seen so far has referred to them as being prepaid AmEx debit cards. That’s a closer description but if you want to be nit-picky about it, these aren’t exactly debit cards either by definition.
But that’s all semantics, let’s get into the

Read more »

Variable Rate Credit Cards vs. Fixed: Does It Really Matter?

Q: How much should I weigh the variable versus fixed rate factor when choosing a credit card? What are the pros and cons for each?

A: Well first, let’s do a quick re-cap of the definition for each what the difference between them is…

• Fixed Rate: An annual percentage rate that does not change
• Variable Rate: An interest rate that is directly correlated to an underlying interest rate index, moving up or down along with it.

  
When it comes to variable APR credit cards, virtually all of them use the Wall Street Journal Prime Rate as the underlying interest rate index. For example

Read more »