Saturday, December 17, 2011

How long does a company have to charge a credit card?

I bought a product over the phone in October (about 5 to 6 weeks ago) and charged the purchase on my credit card. The product was delivered about 2 days later, but the card was never charged. This is a small local business (blinds and curtains, if it makes any difference), and I'm wondering how long it will take them to realize this... And how much time after the purchase they are allowed to charge the account, once they find an error. Is there a limit?


Thanks!|||up to a year -- and i would do the right thing and point it out -- they will be grateful and you will not have it hanging over your head!!!|||Technically, while they should charge the account as soon as possible, they have until statute of limitations run to actually charge your account (if their agreement with the credit card provider allows). However, it's the Christmas season, and you morally should probably contact the store and ask them if there was a mistake. You will feel much better if you tell them about it instead of thinking you've gotten away with something. However, they may find it in the next billing cycle when they go over their books and records. Do the right thing. They may even offer you a small perk in gratitude for bringing attention to their mistake.

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