How To Stop Recurring Credit Card Charges

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How To Stop Recurring
Credit Card Charges

• BY www.newhorizon.org

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• The autopilot mode is efficient when it comes to
  paying your monthly bills. As a consumer, you
  will never miss a payment.
• Another advantage with auto-payments is that you
  can get a deduction on interest rate when
  applying for loans. Merchants get to benefit too
  since they are guaranteed of timely payments.

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• However, there are times you when your vendor
  will continue to bill your account even after you
  have unsubscribed from the service.

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• Ways you can to stop recurring credit card charges

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Read and understand the contract

• Some companies may include in the contract that
  you call a non-800 number if you wish to cancel
  your subscription.
• Sometimes when you call the number given, your
  call can remain on hold for 30 minutes.
• The contract may also indicate that you the only
  way to stop the recurring charges is through
  writing. This is a strategy to delay the process.

If you come across such terms when reading the
contract, do not set up your credit card bills on
auto pilot with that company.
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Contact the billing department

• Contact hem in writing by sending a revoking
  authorization letter to the billing department.
  
• Make it clear you want them to cancel the auto
  payment service.
• It can take almost three weeks before your
  request goes through.
• Dont forget to use Certified Mail, Return
  Receipt when sending your letter. You will have
  proof that they received your letter.
• The billing company should comply when you send
  your letter via certified mail return.

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Contact your credit card provider

• If that does not work, another option is
  disputing the issue with your credit company.
• Inform the credit card company that you have
  revoked your authorization with the billing
  company to stop automatic payments.
• First, you can phone your credit card company and
  then send them a follow-up letter.

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Send a stop payment order to your bank

• Instruct the bank not to allow your credit
  company to deduct money from your bank account.
• For instance, if you want to cancel the next
  schooled payment, send your stop payment order
  letter beforehand. The letter should reach your
  bank at least three business days before the
  scheduled payment date. Other than writing, you
  can choose to call the bank or deliver the order
  personally.
• However, if you wish to halt future payments
  altogether, you might want to do it in writing.
  The banks may request you provide a written
  order. Ensure that you have submitted this
  document within 14 days. Also, attach a copy of
  the revocation letter you sent to your credit
  company when sending the order.

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Monitor your accounts

• Watch the activities of your account. Sometimes
  you can come across a payment that you never
  authorized.
• Also, the unsecured credit cards for bad credit
  charges may continue even after revoking your
  authorization.
• If you notice either of these red flags, notify
  the bank immediately. Under the Federal law, you
  have a right to file a dispute and claim your
  money.

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Switching to a different card

• You can stop the auto-payment by closing that
  credit card and switching to another.
• The risk with closing your account is that you
  can accumulate more debt.
• The billing company can approach the bank arguing
  that you signed a binding contract.
• Based on this new info, the banks may bill you.

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• FOR MORE TIPS
• ON HOW TO MANAGE YOUR CREDIT CARD
• visit https//www.newhorizon.org

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• Looking for unsecured credit cards for bad
  credit? Apply here
• https//www.newhorizon.org/Info/unsecured.htm