According to The Wall Street Journal, U.S. consumers disputed approximately 105 million charges with credit card issuers last year, amounting to an estimated $11 billion. This represents a significant increase from the $7.2 billion disputed in 2019. The rise in disputes highlights consumers’ growing awareness of their rights, as federal law allows cardholders to challenge billing errors, unauthorized charges, and defective or undelivered products. Additionally, a substantial portion of these disputes—up to 75%—falls under the category of “friendly fraud,” where cardholders intentionally dispute legitimate charges. To address this, both Visa and Mastercard have updated their policies to help merchants handle friendly fraud more effectively. If you encounter any questionable charges, consider reaching out to your credit card issuer promptly to initiate the dispute process.
UNITED STATES: The Wall Street Journal reports that last year 'consumers disputed about 105 million charges with credit-card issuers in the U.S., worth an estimated $11 billion'
— The Spectator Index (@spectatorindex) June 19, 2024