The Fair Credit Billing Act protects consumers who use credit cards to pay for online purchases, and helps guard against your credit card being used by others fraudulently, if your purchase isn’t delivered as promised, or when your credit card issuer doesn’t record your payments properly.
If you have a credit card issued by USA-based credit card companies (such as Bank of America, Pentagon Federal Credit Union, Discover, Barclays, State Employees’ Credit Union, Boeing Employees’ Credit Union, Chase Schools First Federal Credit Union, Citibank, Golden 1 Credit Union, U.S. Bancorp and Wells Fargo to name a few) this Act applies to you. It describes what has to be done and when if there is a disagreement with transactions appearing on your credit card statement.
If your credit card isn’t issued by a USA-based credit card company or you don’t live in the USA, then this Act doesn’t apply to you. Similar laws may exist that apply to you, however you should seek legal advice if you see unauthorized charges on your credit card.
Creditors and Merchants have to stick to the strict set of rules contained in the Act. These rules deal with billing complaints, billing errors and the dispute resolution process. It also prohibits creditors from making a negative report on your credit rating until any investigation is complete. In some situations, consumers can withhold payment of amounts under dispute during investigation of the complaint.
If you lose your card, the Act allows you to initiate a dispute against any charges that exceed $50 (Your liability is limited to payment of the first $50, which issuers generally agree to pay)
If you discover unauthorized purchases at the KinkyToy.Store on your card, we will reimburse you up to the $50 limit if those purchase were processed by our secure payment processing servers. To qualify, you must notify your credit card provider and pursue any remedy available to you first. If you have a dispute with a merchant regarding online transactions, you can ask the card issuer to withhold payment and for the issuer's help to resolve the dispute; (however the Act doesn't require a disagreement be settled by the issuer).
The Act may be complicated to read, so we urge you to seek legal advice if you think it might apply to you.