Engagement in online shopping within the comfort of your house has been upsurged in the days of covid. Debit and credit cards make purchasing easy at stores or online. Both provide unbeatable protection and looks almost similar, but credit card is more convenient.

A credit card enables a user to borrow funds from the bank, and the cardholder agrees to pay the money back with interest on the terms and conditions of the bank. The credit card offers much greater protection in comparison to debit cards. Which card is better? That’s another debate? Today, we will talk about the pending charge you see when you buy something using your credit card and how to cancel a pending transaction on the credit card.

A pending transaction is an incomplete transaction which means the merchant does not receive the amount when you buy something. It normally  takes 3-5 business days for money transfer from your account to the transaction’s merchant. Furthermore, there are so many instances where you buy something and now change your mind, or you buy something and are found fraudulent in that. If you face such a situation and now want to cancel your pending credit card transaction, Keep reading. You will find the answer to your query.

How To Stop a Pending Credit Card Transaction

The best and short answer I can give is to contact the merchant on the other side and ask him to dispute the charge, or you can get the credit card issuer. If you are wondering who you should contact first, it depends on whether or not you think the transaction is fraudulent. If you believe the transaction is fraudulent and now you want to cancel it, start by searching the biller’s name, as mentioned on your credit card account.

Sometimes the valid transactions can bring about dud because the biller’s cooperate name is not recognizable as the brand name a customer does intend to pay. If this thing is evident in your case, that’s great, crisis averted. If the transaction is fraudulent, you should cancel the credit card pending transaction. Contact your credit card company to tell them about the unauthorized transaction. The number you should call is on the back of your card.

If you know the transaction is legitimate and you have changed your mind or made a purchase by mistake (or any other reason). You should take request directly to the merchant your transaction is with or contact the credit card company. The credit card company won’t help you if it’s a legally authorized transaction.

Now when you know what a pending transaction is, Let’s dwell on the options available for you. So next time, if you have ever been in a situation where you have to cancel pending credit card transactions, you might know what to do.

As of now, it is clear to you that you should contact a merchant or credit card company. Let’s discuss both options of ending an awaiting transaction.

Contacting a Merchant

The merchant can be the best option to contact if you want to end a transaction that is not made by fraud. As you have made payment directly to them thus getting them first to cancel your credit card transaction can be helpful. It would be best to keep in mind before requesting your merchant go through their return and cancellation policies. This will give you an overview into whether you can get your money back or not. Moreover, you will not be shocked if they disclose certain things to you. Some provide a small window in which you can cancel a pending credit card transaction.

Some Other Points You Should keep in Mind While Contacting a Merchant 

  • Contact them in time. Try to contact them within a day or two. The late you contact them, the difficult will be your process of disputing a pending charge.
  •  Please provide them with all the essential information and proof of your purchase. Hiding or forgetting any documentation won’t favor you in such a state. 
  • If the request is granted, the amount will come back in the same credit card you used at the time of purchase.

Contacting a Credit Card Company

Contacting a credit card issuer can help you only if the transaction is fraudulent. If the transaction is legitimate, you should first contact the merchant. The credit card issuer won’t be able to help you much in that scenario. They can try to resolve the issue by sorting things out between you and the merchant. Ach, not all credit card companies are ready to help if the transaction is not fraudulent.

How Much Time Do you Have to Cancel a Credit Card Transaction?

How to cancel a pending credit card transaction is one thing and knowing the time frame in which you can do it is another. If you have purchased a credit card and now you are compelled to cancel the transaction. This can be due to a change of heart, a purchase made by mistake, or the merchant has not provided the promised thing. Whatever the reason is, it is essential to know the timeframe to end the transaction.

In essence, to what I am saying, there is no specific time mentioned by the card issuer or merchant regarding canceling pending credit card transactions. But you can sort things out by contacting them as soon as possible after you have to make a mind to cancel the transaction.

Time is precious, especially when you want to cancel your awaiting credit card transactions. The more time you waste, the more complicated your case will be. The best time to cancel the pending transaction is when it is in the process of posting.


List of commonly asked questions about how to cancel a pending transaction on credit card

Q1. Can I Cancel My Credit Card Transaction?

If you do not recognize the transaction, contact your card issuer if the purchased thing does not fit the purpose, request a merchant to dispute the charge.

Q2. How to cancel a credit card transaction?

Tell your card issuer you want to cancel the pending truncation. They will do that after investigating a case.