How to Reverse Finance Charges on Credit Cards

How to Reverse Finance Charges on Credit Cards.

There are several types of finance charges that you can incur on your credit card, including late payment and interest charges. If you have been a good customer to your credit card company in the past, you might be able to convince them to reverse finance charges.

Steps.

1. Gather credit card documents that show you have consistently paid the minimum balance or more on your credit card for at least 12 consecutive months. These documents may include bank statements that show cleared payments and credit card statements. Obtain copies of your credit card statements through the company's website if you have paperless statements.

2. Call your credit card company by dialing the number listed on the back of your card. Visit the company's website to find the number if one is not on your card. Navigate the caller menu to connect with a live representative.

3. Explain to your credit card company you have been a good customer in the past and state you are willing to fax documents showing proof of your payment history if needed. Document the name of the person you are speaking to and your case number for your own records.

4. Request that the finance charges you are calling about be reversed. Most credit card companies are willing to work with customers in good standing. If your request is approved, ask to have a document mailed to your home stating that the finance charges have been reversed.

5. Ask to speak to a supervisor if the representative you are speaking with denies your request to reverse the charges. Request to the supervisor that the finance charges be reversed. Make sure that you remain polite at all times.

6. Tell the supervisor you are speaking to you will transfer your balance to another credit card and close your account if the finance charges are not reversed. Credit card companies don't want to lose their good customers to competing companies.

7. Send a letter to your credit card company. In the letter, request that the finance charges be reversed if your previous attempts failed.

State in the letter you will be closing the credit card account as soon as possible if the finance charges are not reversed. Mention the name of the person with whom you previously spoke and the case number you were given.

Include documentation with your letter that proves you have consistently made your payments in the past.

8. Review your next credit card statement. If the credit card company agreed to revers charges, make sure the reversal is recorded on your statement. If it is not, call your credit card company again and ask to speak to a manager immediately.

Tips.

Pay your credit card bill on time to avoid finance charges. Set up a reminder on your computer or cell phone if you have difficulty remembering to pay the bill.