Well, who could have imagined that adulthood requires negotiating disputes with banks? Congratulations on your graduation. Welcome to the world of banking bureaucracy.
Reporting a charge sounds terrifying, but in fact, it is merely a formal complaint. In other words, it means that you inform Visa that a certain merchant has overcharged you. It is something like leaving a one-star review except that you will get your money back.
The first step would be to examine the statement in the corresponding bank’s app (Chase or Citi). No need to tell you that you should find some suspicious charges. It might be the case when you have cancelled a subscription or have been overcharged twice by Uber Eats.
Usually, there is a little button with “Report a Problem.” Press it. To say it simply, it is easier than ordering a pizza.
When disputing a charge, you will be asked for the reason. Select “Services not rendered” if you have paid for the tickets to the concert that was cancelled or “Not as described” if you received a defective product.
Needless to say, you should not select the first reason that pops up on the screen since your aim is to win the case and bank investigators know how to detect the lie. Accuracy matters a lot.
Now you should provide all the documents confirming your claims. Gather all screenshots of correspondence and/or tracking number if the product was not delivered to your address.
The bank places a provisional credit while investigating the matter. Of course, it feels as if you have got some extra money, but that is not the case. If you lose the case, the provisional credit will be reversed almost immediately.
Moreover, you might be asked to return the product first. Having the product that you were not refunded for is a fraud. Needless to say, it is a terrible reputation for a young adult.
It takes about 2 months in total. The waiting period seems really long. However, remember to check your email regularly as regards updates from the fraud department.
Sometimes the merchant contests the dispute and you will be asked to upload additional proofs. However, it would be better to stay calm and upload the facts only. Anger does not work in such situations.
Actually, merchants give up the fight once the bank starts investigating the dispute.