Lost Credit Card - Quick Action Required

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gratitude to Federal laws and credit card company policies, behind your credit cards doesn't mean wide deathes to your bank account or harm to your credit score. Federal law caps your liability at $50 in such an happening, but most credit card companies have a $0 liability clause, if you call within 24 hours of the death. If a thief uses your card before you report it absent, the most you will owe for unauthorized charges is $50.

If you report the death before your credit card is used, the card issuer cannot respect you responsible for any unauthorized charges. And if you report fraudulent activity within 60 existence from the first billing report it appeared on, you won't be responsible for any of the charges above $50. Also, if the death involves your credit card number, but not the card itself, you have no liability for unauthorized use.

But it's perilous that you report the death or theft of your credit card to the card issuers, as speedily as possible. And remember, it's greatly easier and minus painful to cancel a card that you find later in the week, then to risk the hassle of a thief operation amok with your credit card and racking up thousands of dollars of debt on your account.

If you have completely read through the first half of this article, the second part will be a snap to understand.

If you notice questionable charges on your report, call your credit card company immediately to create an investigation. Many companies have toll-free figures and 24-hour tune to deal with such emergencies. accept up the handset and phone the fraud department of your credit card company and be equipped with your account number and when you first noticed your card was absent. Be sure to get the name of the representative you chat with and any allusion figures that may apply.

result up with by a letter to the address provided for billing errors explaining the situation. Do not throw it with a payment-or to the address where you throw your payments-unminus directed to do so. The credit card company has 60 existence to report the outcome of their investigation.

To guard your credit cards from theft or death and guard manually from personal death, respect the next tips:

Keep all your credit cards, whether active or slothful, in a secure place. Include a file of all account figures and company phone information with emergency and buyer tune handset figures to be used if your card is engrossed or stolen.

Make a photocopy of all of the information in your wallet, and keep it in an clearly accessible harmless place. Be sure to photocopy the back sides of cards - they often inhibit information for coverage engrossed or stolen cards, or uncertain transactions.

Never transmit more than the credit or withdraw cards you plan to use. When they're not in your wallet, keep them in a secure place.

defend your account number by never marks it on a check or envelope. Never give your number to an unsolicited handset caller but only to upright companies for a specific purchase.

raze carbons and gate after reconciling them against the monthly credit card report.

Cut through all account figures and alluring strips when discarding old cards.

After a death, examine your billing reports sensibly.

If you have found our database of information on this subject useful, read some of our other topics as well.

Learn More:Author: Jeff Raford
http://jeffraford-financecredit.blogspot.com/