Answers about Credit Card Disputes

How long can the bank take to resolve my billing error/dispute on my credit card / personal line of credit / home equity line of credit?

Generally, the bank shall mail or deliver written acknowledgement to you within 30 days of receiving your written billing error notice. If the bank determines that a billing error has occurred, it shall resolve it within two complete billing cycles—but no later than 90 days after receiving a billing error notice.

If the bank determines that no billing error occurred, it shall mail or deliver to you an explanation with the reasons why it believes that no error occurred.

If the bank determines that a billing error occurred as claimed, then it must correct the billing error and credit your account with any disputed amount and any related finance or other charges and must send a correction notice to you.

March 2010