If you find a mistake on your credit card bill, you can dispute the charge and withhold payment on that amount while the charge is being investigated. The error might be a charge for the wrong amount, for something you didn’t accept, or for an item that wasn’t delivered as agreed. Of course, you still have to pay any part of the bill that’s not in dispute, including finance charges as well as other charges.

If you decide to dispute a charge:

• Write to the creditor at the address indicated on your statement for “billing inquiries.” Include your name, address, account number, and a description of the error.
• Send your letter soon. It must reach the creditor within 60 days after the first bill containing the error was mailed to you.

The creditor must acknowledge your complaint in writing within 30 days of receipt, unless the problem has been resolved. At the latest, the dispute must be resolved within two billing cycles, and not more than 90 days.

Unauthorized Charges. If your card is used without your permission, you can be held responsible only for up to $50 per credit card.

If you report the loss before the card is used, you cannot be held responsible for any unauthorized charges. If a thief uses your card before you report it missing, the most you’ll owe for unauthorized charges is $50.

To minimize your liability, report the loss as soon as possible. Some issuers have 24-hour toll-free telephone numbers to accept emergency information. It’s a good idea to follow-up with a letter to the issuer – include your account number, the date you noticed your card missing, as well as the date you reported the loss.

Disputes about Merchandise or Services. You can dispute charges for unsatisfactory goods or services. To do so, you must:

• have made the purchase in your home state or within 100 miles of your current billing address. The charge must be for more than $50. (These limitations don’t apply if the seller is also the credit card issuer or if a special business relationship exists between the seller and the card issuer)
• first make a good faith effort to resolve the dispute with the seller. No special procedures are required to do so.

If these conditions don’t apply, you may want to consider filing an action in small claims court.

If you have a tax liability to pay, you have the option of remitting your taxes by credit card.

This payment option is available to you, regardless whether you file your tax return electronically or file a paper return by mail.

Credit card payments are currently originated only by Official Payments Corporation (OPC), who provides this service to the IRS in most states. OPC will charge you a convenience fee, based on the amount of tax being paid. All of the fee goes to OPC. Only the tax amount goes to the government.

This fee is charged by OPC to cover operating costs associated with servicing thousands of transactions. The credit card payment transaction is strictly between you and OPC, and therefore, any disputes specific to the card payment are between you and OPC.

Benefits of Paying Your Taxes with a Credit Card:

• It’s convenient – Taxpayers can e-file or paper file early, make a payment by credit card and yet delay out-of-pocket expenses.
  Payments can be made by phone, on-line or when e-filing.
• It’s safe and secure – standard, commercial card networks are used. The IRS does not receive or store card numbers.
• The payment options are available through service providers.
• There is a fee charged by the service providers. Fees are based on the amount of the payment and may vary by service provider (see below).
• Payment information will not be disclosed for any reason other than processing the transaction authorized by the taxpayer.
• A confirmation number is provided at the end of the phone or Internet transaction.
• The “United States Treasury Tax Payment” is included on the card statement as further proof of payment. The convenience fee will be included on the statement as a “Tax Payment Convenience Fee” (or similar transaction).
• If enrolled in such a program, you may earn rewards for paying your taxes like miles, points, rewards or money back from the credit card issuer.

If you don’t have a free period, or if you expect to pay for purchases over time, it’s important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much you’ll pay in finance charges – even if the APR and your buying patterns remain relatively constant.

Balance computation methods include the following:

Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the credit card issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the “average daily balance.”

Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren’t included.

This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance.

Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.

Two-cycle Balances. Credit Card issuers often use various methods to calculate your balance which will make use of your last two month’s account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.

If you don’t understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.

However, you will pay more than that in interest over the next two years if you leave the balance on your current credit card. Transferring that balance to the Discover® More Card – Limited Time Offer credit card you will pay ZERO interest for the next two years.

This credit card also includes the Discover CashbackBonus® feature, giving you up to 5% cash back on gas, groceries, travel, dining out, home improvement purchases and more.

This Discover Card limited time offer expires February 28, 2011.

Discover® More Card – Limited Time Offer
 

* There is No Annual Fee on either of these two credit cards.

* The standard APR on both of these credit cards, after the expiration of the introductory period, will be a variable rate between 11.99% and 20.99%, depending on the applicant’s credit history.

March 1, 2011 – UPDATE:

The Discover® More Card – Limited Time Offer as listed at the top of this page has been extended. This offer provides you the chance to transfer a balance from a higher interest card and pay absolutely NO interest for the next 24 months.

Don’t miss out .. This offer could expire at any time. Apply Today!
Opportunities like this are few and far between.

A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost so it is wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you’re shopping for a card.

Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.

The card issuer also must disclose the “periodic rate”, which is the rate applied to your outstanding balance to figure the finance charge for each billing period.

Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators (called indexes ) change. Because the rate change is linked to the index’s performance, these plans are called “variable rate” programs. Rate changes raise or lower the finance charge on your account. If you’re considering a variable rate card, the issuer must also provide various information that discloses to you:

• that the rate may change; and
• how the rate is determined – which index is used and what additional amount, the “margin,” is added to determine your new rate.

At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.

Free Period. Also called a “grace period,” a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you’ll have enough time to pay.

Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; “gold” or “platinum” cards often charge up to $75 and sometimes up to several hundred dollars.

Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.

Balance Computation Method for the Finance Charge

Scammers are after your credit card data.

Thieves accomplish this by placing scanner devices and hidden cameras in ATM machines. The fake card reader, called a ’skimmer’, is used to get your credit card number and the camera records the pin number you enter. After the devices collect enough data, the thieves come back and remove them.

This scheme has led to the arrest of three men in Boston, Anton Venkov and Vladislav Vladev and Ivaylo Hristov according to the Boston Globe.  Authorities believe the trio is responsible for at least $100,000 that was stolen from customers at Citizens Bank and other institutions.

Become familiar with your ATMs so you can detect an object that’s unusal or something you haven’t noticed before. If you notice something do not use that  ATM.

Discover has updated the Miles by Discover® Card and the Escape by Discover® Card. They now provide better rewards and a lower APR. Click the card names below to apply online.

Miles by Discover® Card

Regular APR: 10.99%(Var.)

• 12,000 Bonus Miles – Earn 1,000 Miles each month you make a purchase for your 1st year
• 1 Mile per $1 on every purchase
• Plus, 2 Miles on travel and restaurant purchases on your first $3,000 each year
• No limit on the Miles you earn and Miles don’t expire*
• Fly on any airline, book any hotel or car, with no blackout dates
• Use Miles for travel, merchandise, gift cards or cash
• 0% intro APR on purchases and balance transfers for 6 months than the regular APR
• No Annual Fee, No Overlimit Fee, No Redemption Fee

Escape by Discover® Card

Regular APR: 10.99%(Var.)

• 25,000 Bonus Miles – Earn 1,000 Miles each month you make a purchase for the first 25 months
• 2 Miles per $1 on all purchases
• No limit on the Miles you earn and Miles don’t expire*
• Fly on any airline, book any hotel or car, with no blackout dates
• Use Miles for travel, merchandise, gift cards or cash
• 0% intro APR on purchases and balance transfers for 6 months than the regular APR
• Industry Leading Customer Service
• Enhanced travel benefits like Travel Delay Insurance and Trip Cancellation Insurance