If your credit card is stolen you need to leap into action. Don't let your emotions paralyze you from doing what is necessary. Contacting your creditor is essential at this time to protect you from any further losses or damage to your credit record.
Immediately call your creditor and let them know your card is missing. Tell them your card was stolen. It is not necessary to actually have the card to become a victim of identity theft. If you get a statement and see that someone is using your credit card then report the abuse immediately and let the creditor know which charges are fraudulent.
According to the United States law, you are only liable for $50 of unauthorized charges on your credit card. If the card is not reported missing or stolen then you are responsible for any charges made until the card is reported as stolen.
Also if you have a joint account check with your partner to see if the charges were made by the other cardholder. Once you are certain the charges are fraudulent then close the card and request a new one. When you obtain your new card, protect your information so the same thing does not happen again. Tell the creditor you will need a copy of the transactions.
Changing passwords and pin numbers on a regular basis will help prevent further theft. Contact the credit reporting agencies. Tell them what has happened and ask them to place a fraud alert on your credit report. If anyone attempts to use your credit card, you will be notified immediately. Review your credit report to be sure if the information is correct.
Go back and figure out where you went wrong or who might have had access to your information. Did you buy something online? Did you make a purchase over the phone? Maybe you know when and where you lost your card. Write down any important details. If your card was stolen, you will need to file a police report. You will want to send documentation of the theft in writing to the creditor.
Keeping an eye on charges in advance is a preventative measure you can take. Keep the card information such as the account number and important phone numbers in your safe in case a card goes missing. Shred any confidential information when discarding it.
Don't let anyone intimidate you during the resolution process. If you have become a victim, you need to keep that in mind and remember it was not your choice or fault. Be aware of your rights. The more you know the more prepared you will be if this should happen to you.
