DEFINITION of 'Chargeback'

The charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement.

BREAKING DOWN 'Chargeback'

Customers dispute charges to their credit card usually when goods or services are not delivered within the specified time frame, goods received are damaged, or the purchase was not authorized by the credit card holder.

  1. Error Resolution

    A procedure that allows consumers to dispute bookkeeping errors ...
  2. Credit Card

    A card issued by a financial company giving the holder an option ...
  3. Affinity Card

    A type of credit card issued by a bank and a charitable organization ...
  4. Bank Card Association

    An organization owned by financial institutions that licenses ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), ...
  6. Credit

    1. A contractual agreement in which a borrower receives something ...
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