Credit Cards

HOW OFTEN does VISA make mistakes on balance of monthly statements?

  • Last Updated:
  • Oct 8th, 2017 7:08 pm
Tags:
None
[OP]
Newbie
Oct 6, 2017
8 posts

HOW OFTEN does VISA make mistakes on balance of monthly statements?

OK I finally decided to check over my visa credit card monthly statements the past 6 months to make sure they charge me the correct amount. To my surprise they over charged me $12.50 in the may statement and $750.00 in the august statement. In the may statement there was a refund of $12.50 from an amazon.com seller. This $12.50 is shown on the may statement as -12.50 but was not deducted from the may balance at all or any other balance before or after. Then in sept statement an unauthorised charge of $1050.00 was charged onto my visa, The sept statement shows the $1050 charge and also the credit of -1050.00 but only $300 was actually deducted from the balance, The $750 they owe me was also not deducted from the sept statement. What is the explanation? HOW OFTEN does VISA make mistakes like this?
8 replies
Deal Fanatic
User avatar
Aug 24, 2016
7462 posts
7590 upvotes
The Prairies
Visa does not issue your credit card, the bank where you applied for your Visa is the one solely responsible in servicing the account.
It is your responsibility to verify each transaction every month, and report any unauthorized transactions within a set period of time.
That period of time is not 6 months.
Deal Addict
Jan 16, 2016
1453 posts
1109 upvotes
Hamilton, ON
LOL. That’s all I have to say. If you can’t notice a $750 discrepancy on your statement, maybe you should pay my bill too while you’re at it.
Deal Fanatic
Feb 4, 2015
6110 posts
2572 upvotes
Canada, Eh!!
Track your transactions on excel or something similar... Just need to add up and compare to stmt... easy to find discrepancies.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
Deal Addict
User avatar
Aug 4, 2003
2812 posts
1335 upvotes
Just want to confirm, you are using base 10 math right? Because credit companies definitely do.
Loose lips sink ships. | Her Majesty's Naval Service
Deal Expert
Mar 25, 2005
21680 posts
2455 upvotes
1. You do understand currencies fluctuate?
2. You do understand any additional spending will still be applied to your bill?
Deal Fanatic
User avatar
Feb 19, 2010
6237 posts
2967 upvotes
dimnic wrote: OK I finally decided to check over my visa credit card monthly statements the past 6 months to make sure they charge me the correct amount. To my surprise they over charged me $12.50 in the may statement and $750.00 in the august statement. In the may statement there was a refund of $12.50 from an amazon.com seller. This $12.50 is shown on the may statement as -12.50 but was not deducted from the may balance at all or any other balance before or after. Then in sept statement an unauthorised charge of $1050.00 was charged onto my visa, The sept statement shows the $1050 charge and also the credit of -1050.00 but only $300 was actually deducted from the balance, The $750 they owe me was also not deducted from the sept statement. What is the explanation? HOW OFTEN does VISA make mistakes like this?
I find this difficult, no, impossible to believe. Post an image of this $750 error or it didn't happen.
Deal Addict
Jan 19, 2017
3299 posts
1823 upvotes
dimnic wrote: OK I finally decided to check over my visa credit card monthly statements the past 6 months to make sure they charge me the correct amount. To my surprise they over charged me $12.50 in the may statement and $750.00 in the august statement. In the may statement there was a refund of $12.50 from an amazon.com seller. This $12.50 is shown on the may statement as -12.50 but was not deducted from the may balance at all or any other balance before or after. Then in sept statement an unauthorised charge of $1050.00 was charged onto my visa, The sept statement shows the $1050 charge and also the credit of -1050.00 but only $300 was actually deducted from the balance, The $750 they owe me was also not deducted from the sept statement. What is the explanation? HOW OFTEN does VISA make mistakes like this?
Since all indivi. Transactions were shown on your statement, then your math may not be correct.
[OP]
Newbie
Oct 6, 2017
8 posts
Sorry i took long to get back to this thread but YUP, IT WAS MY MISTAKE. I forgot to take in consideration the PREVIOUS BALANCE STATEMENT near top of both monthly statement pages. As for the $12.50 amazon credit, it shows -$12.50 on the statement that wasnt deducted but in reality it was when taking the previous statement balance at top which is $485.50, BUT the automatic payment for that amount shows only $470. So that means $12.50 was deducted off the previous balance statement.(i owed 485.50 but only 470 was deducted). And as for the $750, the previous balance statement at top is actually $750 and that amount was not at all deducted on statement, so the $750 credit was applied in that way. Like that other poster said, its almost impossible for visa to make such mistakes. I MUST ALWAYS look at the CALCULATING YOUR BALANCE to right side of each statement, it shows a complete easy summary.

Top