Back Out of an Online Purchase
When you submit an order online using your credit card, the online company immediately requests authorization from your credit card company. This authorization ensures you have enough funds available to cover the transaction and allows the online company to charge the amount specified to your account, which makes backing out of an online purchase difficult but not impossible. Here's how to successfully back out of an online purchase.
Steps
- Check the online company's cancellation policy and call the company immediately. Most companies will require a phone call or email within a specified amount of time after the order has been placed. Some companies request cancellation notices to be placed within 30 minutes of placing an order, while other companies may allow up to 24 hours to cancel an order.
- Keep a record of all contact between yourself and the online company. You may be asked for this information as proof of your effort to cancel the order.
- Request a cancellation or transaction ID number for future reference if the order has been canceled. Keep this information to make sure the charge has, in fact, been canceled.
- Check your bank account for the refund. If a refund for your transaction does not appear, it may be because your order has already shipped.
- Return the merchandise. Refer to the online company's return or exchange policy for details, then repack the merchandise for return.
- Open the package to find the enclosed packing and return slip. Fill out the form for returns and be sure to mark full refund.
- Seal the package, making sure all merchandise is inside and in its original packaging. Unless otherwise noted, you will be responsible for paying the shipping cost to return the merchandise.
- Follow up on the status of the refund by checking your transaction with the online company and checking your account. If a refund has not been issued, contact the online company to be sure the merchandise was received.
- Contact the credit card company that authorized the transaction. A dispute will be placed for that transaction, and an investigation will ensue. During the investigation, the charge will be removed from your account.
- After the investigation, the credit card company will make a decision based on information received from the cardholder and the online company. The credit card company may determine that you do not deserve a refund. For example, if merchandise was not returned, the charge will be posted to the account again, and you will be responsible for the charge. If the credit card company determines a refund should have been issued, the charge will not reappear on the account and you will no longer be responsible for that charge.
Tips
- Before placing an online order, be sure you know exactly what you are ordering and the total price, including tax and shipping. Doing so will decrease the possibility of having to cancel an order and allow you to keep better track of your credit card activity, minimizing the chances of fraudulent activity.
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