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Lost Credit Card

How To Report A Lost Credit Card

You need to report a lost credit card promptly!

It's never fun to lose things, but a missing credit card is a major concern. If yours is lost or misplaced, do you know what to do? You should! All credit card companies have an established policy that offers you protection against loss. You need to know what that policy is before you lose your credit card.

How To Report A Lost Credit Card

If your credit card is lost, or if you even "suspect" it is lost, you must report it to the credit card company immediately. Don't fail to do this! With some cards, you are required to pay the amount charged to your account before you report it missing. Delay could cost you money.

Most card companies provide a special 24-hour, toll-free number for reporting missing credit cards. You can usually find this phone number on the back of the monthly statement sent to you by the company. (You do keep your monthly statements, don't you?)

Also, whenever you receive a new credit card, it usually comes with a wallet card or brochure outlining the company's calling procedures and a list of the toll-free numbers for the company's customer lines.

For travelers, there is usually a special phone number to call collect if your card is ever lost or stolen while traveling out of the country. Keep this number safely with your passport should you ever need it and be sure to report a loss quickly.

Most card companies will let you report a lost credit card online at their website. If you don't know the company's website address, you can quickly locate it through a Google Web search for the name of your credit card.

Information You Need To Report

When you report a lost credit card, you will likely be asked for the following information, so keep it handy:

The name of your credit card issuer (e.g., your bank)

The type of credit card (e.g., classic, gold, or platinum)

Your credit card number and its expiration date

Your 3 or 4 digit "Card Verification Number"

Whether you are the primary or secondary cardholder

The mailing address where you receive your monthly statements

Your full name as it appears on the credit card

Your home telephone number

How and when the credit card went missing

Other personal details for an identification check

Who's Responsible For Fraudulent Charges?

You are 100% responsible for all charges made on your charge card. But, once you inform the credit card company that your card is missing, they will block all future charges made on that card. That's why you need to report a lost credit card quickly.

However, you will likely be given a break. Depending on the type of credit card you have and where you live, you may not be liable for more than the first $50 worth of fraudulent charges. It all depends on the card company's policy and your country's laws.

The policies of each company are different. To find out about your card policies, check the fine print on your credit card agreement or phone the card company and ask the customer service representative.

The top credit cards companies often have zero liability policies. If such a policy applies to your stolen or lost credit card, you won't have to pay for any wrong charges.

Check Your Monthly Statement

When you receive your next credit card statement, make sure you examine every transaction carefully. If you notice a charge that isn't yours, it is your responsibility to notify the credit card company immediately.

Most companies require you to notify them of any errors by telephone within 30 days of your statement period end date. A toll-free number is listed on the statement for this purpose.

Don't fail to report the wrong charges or you may end up paying for them. The written policy of most card companies is that after 30 days "their records" will be considered correct.

Some companies may require you to give them written notification. In your letter, tell them the date when you reported your card missing, and carefully list the transactions that are not yours.

Send the letter to the address for billing errors; it may be listed somewhere on the statement. Do NOT include the letter with your monthly payment or it will likely get misplaced; it will certainly get delayed in reaching the proper department.

Prevent Lost Credit Cards

This may sound over simplified, but I have found the best way to avoid losing credit cards is to always keep track of them. Keep them in ONE location so you always know where they are.

For example, I always keep my credit cards in a small leather pass-case in my pocket. After using a card, I immediately insert it back into its case and return it to my pocket. Aside from my pocket, the only other place that pass-case sits is on my dresser at night. It's a simple system, and once you get into the habit of it, it works.

You can never be too careful about protecting your credit cards. Believe me, you don't want to become a victim of credit card identity theft. Keep track of your cards, and report a lost credit card to the credit card company immediately!

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