Unrecognized charges on your credit card: What you must do
One of the most common fears that arise when you get a credit card is that, when you check your account statement, you will find charges that you did not authorize. Formally known as unrecognized charges, they are those amounts that have been paid to establishments but that we do not recognize, either because we do not remember having made them or because someone else made the charge.
Here are the 5 things you should do when detecting strange movements with your card, and thus avoid complications in the future.
1. Are you sure it is not yours?
First of all, take some time to check that the unrecognized charge is really a purchase you did not make. Many times the name of the merchant that appears on the account statement does not match the name of the establishment where you made the purchase.
So, if you still have the purchase vouchers, check them, because maybe with the amount and the date you will be able to identify which one it is. Also, we recommend you to verify if the charge was not made from an additional card.
2. Make sure that it is not a fraud
Generally, when your credit card information is used by a fraudster, he/she makes several purchases in a short period of time, since criminals know they are up against the clock and at any moment the cardholder can block the card.
Check your account statement well and if there is more than one unrecognized charge, then you have enough elements to suspect that your card has been cloned and your case has become a fraud. Don’t worry too much, even in these cases your bank will cover you, just keep reading.
3. Contact Customer Service
Report the situation to the bank immediately after you notice the unrecognized charge.
4. Make sure the amount is put in dispute
Putting the amount in dispute means that the charges will not have to be covered until the bank conducts an investigation. It is worth mentioning that during the period of the investigation you will be exempt from making the payment, but, if in the end it is proven that the operation was indeed performed by you, you will have to pay the amount owed plus accrued interest and, depending on the bank, you may be charged a fee for inappropriate clarification.
5. Don’t let it happen again
Some banks have established an alert service that is activated when you use your credit card, sending you a notification in real time to your phone or e-mail. This is how you can keep your movements under control and be aware of the charges you are making.
However, for those who are looking for a card that specializes in the subject, you can also find the American Express Basic Credit Card, which takes the service to the next level and sends alerts for payment dates, credit limit, applied payment and card balance.
Remember that it is very important to take care of your card data and you must make sure when filling out any virtual payment form so that it does not turn out to be fraudulent. Report immediately and minimize as much as possible the consequences that may occur.