Source: http://www.investopedia.com/articles/pf/07/credit-card-dispute.asp
Summary
The article I read was called, "How to Dispute A Credit Card Charge." The article was talking about how to return a product you recently bought that wasn't functioning well or didn't even work if you paid by credit card. Everyone who owns a credit card have protection with the purchases they make, granted by the Fair Credit Billing. The law indicated that any consumer who bought a product that was not working well, bad quality, broken or billed incorrectly can allow to withhold payments until the problem is solved, which means they don't have to pay for the product until the problem is fully solved. The article describes step by step how to dispute the credit card charge. The first thing is to go back to the merchant and state your problem in a reasonably way. The merchant will most likely give you full benefits, but if they don't, you write a complaint to the credit card company. A lot of the big credit card companies will dispute the credit card charges, but if they don't give you the refund, you must pay for the product. The article just wants people to know that there's ways of disputing a credit card charge when you are not satisfied.
Connections
I think the article connects with Chapter 14 because it talks about credit cards and refunds. In Chapter 14, we learned that credit cards are a way of paying without actually having money. It's not another form of cash. The chapter also talks about petty cash funds. Petty cash funds only happen for cash, but it's also like a refund. The article I chose talks about refunds. The article talks about how credit card charges can be refunded. It talks about how to refund a credit card charge, when the product you just purchased isn't in good condition. The law that supports the refund of a credit card is the Fair Credit Billing stating that you are allowed to withhold payment until the problem is solved.
Reflections
The article reflects the chapter we recently studied because it talks about the things we mostly learned. Credit cards are a form of paying, without actually using cash. It's a promise to the merchant that you will pay the charges within the deadline. If you don't pay within the deadline, you will be charged interest. Sometimes, they give discounts if you pay early. I think credit cards are impressive, but it can also be dangerous. I think they are dangerous because you have to be the kind of person who pays their bills on time or else you will get interest charges and be in debt. If it continues the way it does, you might go bankrupt. I think a lot of people get in debt, because they use their credit cards a lot without noticing, and when it gets time to pay their bills, they don't have enough money to pay it. I think the lesson to be learned with using credit cards is to think before they swipe and only use it when it is absolutely necessary.
