Chargeback

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

Investopedia explains 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.

Filed Under: Banking, Personal Finance

Related Terms

Affinity Card
Annual Percentage Rate - APR
Authorization Code
Bank Card Association
Credit
Credit Card
Error Resolution
More Related Terms

Related Links

How to Avoid a Chargeback - To avoid the costly and time-consuming process associated with disputed items on your customers' credit card statements, follow these steps.
Your Credit Card Chargeback Rights - The chargeback rights of credit card clients as stated by the State of California's Office of the Attorney General.
Compare Local Interest Rates - Search and compare the best checking and savings rates nationwide from Bankrate.com. Click Here!

Rate this Term: Your Rating: Overall Rating: Vote Now!