Credit card billing statements are issued every month in the United Arab Emirates, and all credit card holders are aware of their importance.
All of the data about the transactions made using the credit card in a set period is included on the statement.
If a cardholder finds any mistakes on the credit card billing statement, they should immediately report them.
Mistakes can include the likes of erroneous figures and unauthorised payments.
The first thing that a credit card holder needs to do is review their credit card statement thoroughly.
Common mistakes on statements can include incorrect transaction charges, reward points not added or wrongly updated, unauthorised payments, failure to include cashback, and wrongly charged annual fees.
However, there can be other mistakes, so it is important to perform an in-depth examination of the statement.
If any mistakes are found, the UAE credit card company can correct them.
Ignoring mistakes will only cost you money.
If you have found any mistakes in your statement, large or small, proof needs to be gathered.
These can include the credit card receipt given after purchase or the payment message screenshot in regard to payment errors.
If a transaction has been incorrectly charged, you should first get in touch with the merchant with which you used your credit card.
The great majority of merchants in the UAE will revert back the payment if they have made a mistake.
If the merchant cannot or will not resolve the issue, you should then get in touch with your credit card provider.
Once you have gathered the necessary proof, you should contact the customer care department of your provider.
Make sure that you do not send confidential details such as passwords, login credentials or card pin numbers in letters or emails.
It is a good idea to visit your provider and provide any necessary details in person.
Ensure that you do this as soon as possible and certainly before the date on which your payment is due.
You could be charged late fees and interest if you do not pay the statement without having reported the mistake.
You will need to follow up in regard to your report status after your initial visit.
The process can be a lengthy one, so you need to ensure that it has either been fixed prior to the date that your payment is due or enquire as to what amount you should pay.
If you have valid proof that a mistake has been made, the issue is likely to be resolved sooner – otherwise, your provider may take longer to be convinced of the error and solve the problem.
Assuming that the problem is solved, you should then thoroughly review the next statement you receive to ensure that there are no further errors.
There are often mistakes made on credit card statements, but they can be simply resolved by approaching your provider with proof prior to the due date.
Complaints about credit card statement mistakes will have no impact on your credit score in the UAE.