What to do if your Credit Card is Lost or Stolen

Have you ever lost or had your credit card stolen? It can be a scary experience for anyone. You could be stressed about the fact that someone else might have your card and were using it for their own personal use. You would probably worry about the fact that your credit was being ruined. But do not worry, there are somethings that you could do if you do lose or have you credit card stolen and they are to:

Report the loss or theft of the credit card to the credit card company as soon as you learn of the loss.

Call the 24 hour toll-free number to report the loss or theft of the credit card to the credit card company.

You should follow up your call with a letter to the credit card company. Be sure to include the account number of the credit card, the date you first notice the credit card was missing, and the date you first reported the loss or theft of the credit card.

You should then check your home owner’s insurance policy to see if it covers your liability for the loss or theft of the credit card. If not, some insurance companies will allow you to change the policy to include this protection.

After you have done all of this you should then:

Review your credit card billing statements carefully for any unauthorized charges.

If your statements reflect any unauthorized charges it is best to report the charges to the credit card company by sending them a letter listing any questionable charges you have found.

Once again you should include your account number, report the exact date and time you notice your credit card was lost or stolen, or when you first noticed the unauthorized charges and also note when you first reported the problems to the credit card company.

Be sure you report to the address provided for billing errors on your credit card statement.

Do not send the letter with any sort of payment or to the address you normally send the credit card payments to unless you are directed to do so.

Most state laws say that you will be charged only fifty dollars for unauthorized use of your credit card provided that you reported the loss or theft before the credit card was used.

The Fair Credit Billing Act or FCBA states that the credit card company can not hold you responsible for any unauthorized charges.

So if you have ever lost or had your credit card stolen, you should have followed these things to correct the problem. If you ever lose your credit card or if your credit card is ever stolen, you should first report it and then go on from there. If you do not know what to do then you should call the credit card company to ask if you need help or have any questions. If you do this, then you can keep the experience from becoming too stressful and you could keep yourself from becoming too obsessed with the whole situation.