If a family member or someone you know uses your card without your permission, you have to take legal action against them to have the unauthorized charges removed from your account. If a thief uses your lost or stolen credit card, you are responsible for a maximum amount of $50 of unauthorized charges. If you contact the card issuer about the lost or stolen card before it is used by a thief, you do not have to pay any of the unauthorized charges. Look on the back of your statement for a telephone number to report your lost or stolen card.

Read the card holder agreement or yearly disclosure statement that comes with your card to learn more about lost or stolen cards. When you telephone creditors about lost or stolen cards, write down key information about reporting the card and file it so it can be retrieved later if needed. For instance, record the name of the employee taking your report; the date, time, and notes about your conversation.

Be sure to reference the information about the telephone conversation in your follow-up letter to the issuer about the lost or stolen card. If you feel the need for additional proof that you reported the lost or stolen card, send your letter about the stolen card by certified mail with return receipt so you have documentation that you reported it. Also, keep a copy of the letter for your files.