It’s important to read your monthly credit card bills for inappropriate charges – charges that you did not make, or charges that you made for a different amount or for a product that performed very differently from what was promised.

If you find a suspicious charge, call the vendor first. Often their phone number is on the charge card statement itself.

If you are unable to reach the vendor or if you can’t resolve your dispute at that level, you can appeal this charge to the credit card company itself. The credit card company will work with you to resolve this dispute, and may refund the balance to you against your current statement.

This added level of consumer protection is a valuable feature for credit cards.

For more information and to learn your rights, visit the Federal Trade Commission’s Consumer Information website.

Valrie Chambers, Ph.D., professor of accounting, and Betty Thorne, Ph.D., professor of statistics and the Christian R. Lindback Chair of Business Administration, write Financial Fridays to bolster students’ financial wellness including preventing financial mistakes, safeguarding their assets and identity, and thinking critically about financial decisions. For questions, contact Valrie Chambers at [email protected].