Understanding Credit Cards
| Stolen or Lost Credit Cards |
| Written
by lifang |
| April 22, 2008 10:46 |
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- If you report the loss before your credit cards are used, the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. If the loss involves your credit card number, but not the card itself, you have no liability for unauthorized use.
- After the loss, review your billing statements carefully. If they show any unauthorized charges, it's best to send a letter to the card issuer, describing each questionable charge.
- Report the loss or theft of your credit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies.
- Follow up your phone calls with a letter that includes your account number, when you noticed your card was missing, and the date you first reported the loss.
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