Credit Card Bill Mistake? Here's What To Do Immediately

Finding a wrong amount on your credit card bill can be scary. You might see charges you don’t remember, higher amounts than you expected, or missing payments. These mistakes can be confusing and might even hurt your credit score if you don’t fix them quickly.

The good news is that Indian banks and credit card companies have easy steps to solve such problems. If you report the mistake on time and follow the right process, you can fix it without much trouble. This article will show you exactly what to do to correct the issue and keep your finances safe.

Carefully Review Your Credit Card Statement

The first thing you should do is read your credit card statement carefully. Look at each transaction and match it with your own records. This includes checking SMS alerts, email confirmations, and your bank’s mobile app or net banking transaction history.

Sometimes, a merchant’s name may appear differently on the bill, which can cause confusion. For example, a local store’s billing name might be different from its common name. Also, if you made payments or purchases close to your billing date, there could be a delay in reflecting them on the current statement.

Taking your time to cross-check these details helps you identify whether the discrepancy is a genuine mistake or just a timing or labeling issue.

Reach Out to Customer Support Without Delay

Once you have confirmed that there is indeed an incorrect charge or amount on your bill, the next step is to immediately contact your credit card issuer’s customer service. Most major banks in India, such as SBI, HDFC, ICICI, Axis, and Kotak, provide 24-hour helpline numbers specifically for credit card support.

When you call, be prepared with your card details, the date of the transaction in question, and the exact amount you believe is wrong. Explain your problem clearly and ask the representative to register your complaint.

Make sure to note down the complaint or reference number that the customer service agent gives you. This number will be very important for future follow-ups or if you need to escalate the issue.

Submit a Formal Dispute with Supporting Documents

After your phone call, it is important to file a formal dispute regarding the incorrect charge. You can usually do this using your bank’s website or mobile app. Look for an option that says “Dispute a Transaction” or something similar in the credit card section.

You will be required to select the transaction you are disputing and upload proof to support your claim. This proof might include purchase receipts, email confirmations, or screenshots of the charge you expected.

Indian banks are governed by the Reserve Bank of India (RBI) regulations that require them to investigate disputes within a fixed time frame, usually seven working days. During this period, the bank may temporarily remove the disputed amount from your bill until they complete their investigation.

Remember to file your dispute quickly, as banks typically allow disputes only within 30 to 60 days from the statement date. Missing this deadline may force you to pay the incorrect amount.

Keep Paying the Correct Part of Your Bill

While your dispute is being processed, you should continue to pay the undisputed portion of your credit card bill on time. That means you should pay all charges that you agree with and only withhold payment on the amount you have formally disputed.

If you fail to pay the rest of your bill, you could face late fees, higher interest rates, or even a negative impact on your credit score. By paying the undisputed amount, you show good faith and maintain your financial reputation. You can also inform your bank in writing or during your customer service call that you have paid the correct amount and are waiting for resolution on the disputed part.

Keep Following Up Until the Issue Is Resolved

Usually, banks will communicate the outcome of their investigation within two weeks. However, if you don't get any updates, make sure to check in. Use the complaint or reference number to check your dispute status through the bank’s app, website, or customer support.

If the bank needs additional documents or clarifications, respond promptly to avoid delays. Should the bank not resolve your issue satisfactorily, you can escalate the matter within the bank by contacting the nodal officer or principal nodal officer.

If all internal bank procedures fail, you have the right to approach the Reserve Bank of India’s Banking Ombudsman scheme. This is a free service where the RBI intervenes to resolve unresolved complaints. You can file a complaint through RBI's online portal at https://cms.rbi.org.in.

Bottom Line

Finding errors on your credit card bill can be upsetting, but it is important to know that you have ways to fix the problem. Staying calm, gathering all your transaction evidence, and acting quickly are the keys to resolving the issue smoothly.

Indian banks and credit card companies operate under strict RBI guidelines to protect consumers, so they are required to investigate and fix billing errors promptly.

By following the steps outlined above, you can ensure that any incorrect charges are corrected without harming your credit score or causing you unnecessary stress.