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[L590]Lost Or Stolen Credit Cards

by Peter K, Pet

Here are some tips about what to do when your card is lost or stolen, and how to prevent it happening:

Cancel ASAP

If you know your card has been lost or stolen, cancel the card at the first available opportunity. The quicker you cancel the card then the less chance someone else has to use it and the quicker you can be sent another card. You should always keep your credit card company numbers in a number of locations so that you can ring the company even if your wallet is taken.

Review your statements

If your card is stolen or not, you should regularly review your statements to check for irregularities. If someone has gotten hold of your card number or cloned your card then they could be buying things on your card even if you still have it. If you see anything suspicious then contact your card issuer immediately.

Be careful with paperwork

Any paperwork pertaining to your cards should be kept in a safe and secure place. If you are throwing out old statements, make sure that you dispose of them properly. The best way to dispose of bank information is to shred the items thoroughly so people cannot use them to get your account information.

Be careful with your PIN

Even if someone gets hold of your card, if you have a secure pin they are unlikely to be able to use the card. Make sure your PIN is not written down anywhere, especially near your cards. Also, never give your PIN to anyone, even friends and family. If you PIN is secure then your card is going to be safer.

Get insurance

One of the best ways to protect your cards is to get protection insurance. If your cards are lost or stolen, then you are covered against any loss. If you use an independent company then you can register all your cards with them and report multiple losses at once. The registration company will also request new cards for you.

Only carry what you need

Another way to stop loss or theft is to only carry out the cards you need each time. It is unlikely you will need all your cards every time you go out. If you keep them at home then they are less likely to need replacing. Just take out what you need.
Don't panic

If you do have your card stolen or lose it, remain calm. If you follow all of these steps, then you will have a new card in around a week and you won't lose any money from unauthorised spending.

Do you know what to do if this happens to you? Well, you should because a few simple steps can save you a lot of headache. It really isn't difficult to develop an action plan for your lost or stolen credit cards.

All major credit card companies have policies to protect you from loss or theft. You just need to know how to get their policies working for you if your cards become missing.

The first step is to contact your credit card companies to report your missing cards. Many companies offer a toll free number or an online service to handle this type of problem specifically.

Fortunately, federal law states that your are only liable for the first $50.00 of fraudulent charges made to your account. However, you are still required to report the card lost or stolen and if you do so prior to any fraudulent charges, you are not liable for the $50.00 charge either.

Be sure to carefully review your statement for any charges that don't belong to you. And, if there are any fraudulent charges to your account, notify your credit card company in writing immediately.

When your send in your written notification be sure to mail it to the billing errors address. Do not send it with your payment as it will probably become lost and never get recorded.

A lost or stolen debit card works somewhat differently from a credit card. If you report the card lost or stolen before it is used you are not liable for any charges, however, if you wait for even two business days you may be liable for up to $500.00 of any fraudulent charges made with your card.

After you have reported your missing card, be sure to review your statements carefully for any fraudulent charges. You should call, as well as, follow-up with a certified letter regarding any issues with your lost or stolen card. This added step will help to eliminate any liability on your part.

Also, remember to have your credit card contact information in a safe place where you can quickly access it if needed.

Of course, the best way to avoid these problems is to keep careful track of your credit cards. Know where your credit cards are at all times and keep your pin numbers secret. Also, be sure to use pin numbers that are not easy to figure out, such as your date or birth.

Most importantly, be prepared to contact your credit card companies via telephone and in writing as soon as possible in the event your cards become lost or stolen.

Article Source : How To Make Response Cards

About Author

Both Peter K & Jill Kane are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Peter K has sinced written about articles on various topics from Credit Cards, Debts Loans and Liability Insurance. Peter Kenny is a writer for creditcards-gb.co.uk.For additional articles and an extensive resource for everything about credit cards, please visit us at . Peter K's top article generates over 135000 views. to your Favourites.

Jill Kane has sinced written about articles on various topics from Credit Cards, Finances and Dental Practice. . Jill Kane's top article generates over 18100 views. to your Favourites.