Tips You Can Use If Your Credit Card is Lost or Stolen

By: Tim Gorman
Submitted: 2007-01-17 16:23:42
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

Nowadays, it has become common for wallets or purses to be stolen or lost. Important items such as identification cards, ATM cards and credit cards are kept in wallets and purses.

So what would you do if you do lose your wallet or purse, and all your credit cards are there? The good news is that all reputable credit card companies have procedures and policies in place to help you when you do find yourself in such a situation. These companies offer protection against credit card loss or theft.

File a Report with Your Credit Card Company

The first rule in any emergency, including losing your credit card or having it stolen, is: don't panic. Your credit card company has a toll free number that you can call to report a lost or stolen credit card. The first step you should take as soon as you discover that you've lost your credit card or that it was stolen is to file a report with your credit card company.

You need not worry about paying for fraudulent transactions after your credit card is lost or stolen. Based on a federal law, you are only liable for the first $50 of any fraudulent charges made on your credit card. However, you still need to report that your credit card has been lost or stolen even if you won't be taking a significant loss.

If you report loss or theft of your credit card before any unauthorized transaction is carried, you do not have to pay $50. Nowadays, many credit card companies are even flexible with the $50 exposure, so make sure that you know what the terms are for your credit card.

Check Your Bill

After you lose your credit card, go over your latest bills with a sharp eye. If you recognize transactions that you didn't make, immediately write to your credit card company. In the letter, include the date when you informed the company about the loss or theft of your credit card. Address your letter to the company's billing errors department.

Bigger Risks with Debit Cards

If your card happens to be a debit card, you have bigger risks if it gets lost or stolen. The sooner you report about the lost card, the lesser the chance of you being held liable for any transaction. If you file a report before your debit card has been used, you will not be held responsible for any fraudulent charges. However, if you delay in filing a report, you stand of risk of being charged as high as $500 for any unauthorized transactions carried out using your lost card.

Track Your Cards

Keeping track of your cards is the best way to prevent your cards from getting lost or stolen. Know where you keep your credit cards. Don't give out your PINs. Use a different PIN for each card and make sure that you choose a PIN that is hard to guess. Avoid using your date of birth, phone number or Social Security digits for PINs. It's also good practice to change your PIN once every 60 days or so.

Find the best deal on credit cards to include low interest credit cards try visiting BestOnlineCreditCardOffers.com where you can quickly and easily find deals on a variety of credit cards to include business credit cards, airline credit cards, reward credit cards, bad credit credit cards and instant approval credit cards.

Article source: Expert Articles

Most Recent Articles in Legal category

  • California Motorcycle Accident Death Numbers May Reach Record Levels - By: Robert Reeves
    For the thousands of people who have opted to take to the streets in their motorcycles in an attempt to beat high gas prices, there's a sobering statistic about motorcycle accidents that might make them think twice. According to the California Highway Patrol, motorcycle accident deaths in the state are on their way to rivaling a record set back in 1991. That was the last year that motorcyclists were allowed to ride without helmets. The death count in motorcycle accidents that year was 512. This year, the tally so far is 332, and counting. That number is also close to reaching last year's total number of motorcycle accident fatalities - 474.
  • Lawyer's Provisions, of Automobile Accident Protocol - By: Claysphere Rivera
    An automobile accident is regularly defined as a "road traffic incident which usually involves at least one vehicle in collision with another, another road user, or a stationary roadside object, which result in injury or property damage". Different jurisdictions have their own statutory definition of the term as reflected on how prevalent and serious an automobile accident must be in their respective jurisdiction.
  • California Legal Services and Common Areas of Practice - By: Claysphere Rivera
    California legal services providers also attend to any business matters within the area. They provide legal solutions for everyone within the California community, whether as companies (big or small), corporations, partnerships, sole business and to individuals.
  • Available Death Benefits for Worker' Kin under Social Security - By: Claysphere Rivera
    When a beneficiary dies, some of the deceased's family members may be eligible to receive Social Security death benefits if the deceased beneficiary has worked long enough to qualify for benefits and has paid Social Security taxes. This benefit payment, coined as survivor benefits, was designed to help the family members maintain their standard of living after the death of a loved one who was eligible for Social Security.
  • Drowning Injury: Terms, Facts, Claims and Lawyers Help - By: Claysphere Rivera
    Drowning is death as caused by suffocation when a liquid causes interruption of the body's absorption of oxygen from the air leading to asphyxia. Put it in different light, it is defined as death from suffocation within 24 hours of submersion in water.
  • L.A. Law Firm as Aid to Personal Injury - By: Darren Agaton
    In Los Angeles, there are personal injury law firms that are made of pool of excellent lawyers. Depending on your standards and qualifications, law firms can provide you the best lawyers you would want to handle your personal injury claims.
  • A Worker's Rights under Los Angeles Construction Liability Law - By: Kamille Pagibigan
    Helping one to review the details of the situation is the role of a Los Angeles construction liability lawyer. Through him, one can avail the maximum monetary demands for ones claim. And because there are no fixed amounts a victim can expect to receive, he can calculate the damages one might be rewarded.
  • How long to wait for your application to be approved by the US Bureau Citizenship and Immigration - By: Sonia Munoz
    Learn about the US Bureau Citizenship and Immigration Services to have a better understanding of the process of immigrating to America through investment, employment, or a family petition.
  • Claims of Car Accident Victims: Do not Delay! - By: Jean Kuda
    Car accident victims may suffer a great amount of damages. They are not only susceptible to bodily injuries but they may also succumb to financial problems arising from the hospital bills, medical treatment or rehabilitation.
  • Not so Fair Practices against Workers - By: Jean Kuda
    Several laws are enacted to give employees or workers the right to bargain collectively on the terms and conditions of their employment. Unfair labor practices (ULP) are uncalled for and are frowned upon by law and society.