What Is A Credit Card Chargeback?
After you have submitted your chargeback request, your bank will provide written confirmation of your request. Your bank will also either post a temporary credit to your account for the disputed amount or pause required payments and interest on the disputed amount. Sometimes your credit card issuer will simply issue you an account credit for the amount you dispute. This happens most often with small purchases, where the overhead of contacting the merchant and investigating the chargeback would be far greater than the amount of the purchase. Most often, after collecting your reason for disputing the charge and supporting documentation, your bank will submit your chargeback to the merchant. Your bank will provide the transaction information, your stated reason for requesting the chargeback and any supporting information that documents your claim. The merchant and their bank will then have a period of time, usually around 10 days, to respond to the banks inquiry