A
refund made by a credit card company to a
credit card holder. Chargebacks occur when a card holder disputes an item on one's credit card statement, usually because he/she claims that he/she never authorized the charge. For example, if a person is a victim of
identity theft because someone stole and used his/her credit card, that person may receive a chargeback on all unauthorized
transactions. Other reasons for receiving a chargeback include receiving goods late or damaged, or not receiving them at all.