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What To Do If Your Credit Card Has Been Lost Or Stolen

Summary, This article is a perfect complement to a finance-related blog. It focuses on what to do when a credit card has been lost or stolen. It provides solid information for the reader in the event something has happened, while giving the hosting website a chance to include affiliate links or Adsense code to the article. The reader will not feel as though this was written just to hook them, but instead will know what to do in the event they lost a credit card.

What To Do If Your Credit Card Has Been Lost Or Stolen

You look in your wallet or purse for your credit card, but it isn’t there. Maybe it fell out in the car, or at home, you think. When you get to the car or your house, you realize it isn’t there. Panic starts to set it. Where did it go? What if you lost it? What if someone decides to use it? These are reasonable questions, but don’t worry. There are some steps you can follow if your card has been lost or stolen. So, without any further ado, here’s what you need to do if your credit card has been lost or stolen.

Don’t Freak Out

This is easier said than done, but there is no reason to freak out. In fact, you are covered by the Fair Credit Billing Act of 1974. According to the FCBA of ’74, cardholders are not responsible for more than fifty dollars in fraudulent charges as long as they report it within 60 days of their bill. For some, though, fifty dollars is too much for them. And credit card companies understand this and sometimes completely waive the fee.

Also, you aren’t the first person this has happened to, so the credit card companies already know what to do. They’ll lock your account number down, reissue a new credit card number, and ship out the new card pronto. So, you may be without a credit card for a few days, but your money will still be your money and you won’t be left holding the bag.

Look Over Your Statements

Now, we said it before, but this is where the FCBA of ’74 can be helpful or hurtful. If you don’t report the fraudulent charges within 60 days of your bill, you are on the hook for the complete amount. Most people don’t even realize that their card has been lost or stolen for weeks at a time. But, if they are looking through their statement, they may recognize a fraudulent charge or a company that they didn’t visit. Sometimes this is the only way to know you’ve lost your credit card.

Don’t be one of the unfortunate people to just pay your bill without looking through it first. It could end up costing you a whole lot more than a few extra minutes of time.

Freeze Your Credit

And in moments where you can’t afford any more hiccups, you can freeze your credit. By freezing your credit, you make it impossible to open up any new credit lines, change any information, or do anything else using your credit. And when you need to, you can “thaw” your credit freeze using a special PIN given to you when you froze the credit (do not lose this).

There are a few ways to freeze your credit, but the easiest is to go to IdentityTheft.gov. From there, you can find the information for each credit bureau and how to reach them. There’s even more information on identity theft on the website itself.

Final Thoughts

Losing a credit card or having it stolen can be gut-wrenching. That sinking feeling that someone is going to ruin your credit and/or your finances can be anguishing. But equipped with the knowledge above, there’s no reason to lose any sleep over it. Just relax, check your statements, and do a freeze if necessary. Ultimately, it’s a small hiccup that you will overcome.

What To Do If Your Credit Card Has Been Lost Or Stolen
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