Losing credit cards can pose a huge risk to the credit card holder. If not reported on time, you will have to end up paying for purchases that the thief made using your card. Unfortunately, most people do not notice that their card is missing until days after it is lost. A few people who do notice it on time are not very sure about the further course of action they should take to ensure that their card is not misused. It is always recommended that you know what to do in case your credit card get stolen or lost.
First of all, the minute you realize that your credit card has been stolen, call up the customer service department of the lender and report the loss. The faster it is done, the better it is for you since the lender will immediately block all further transactions on your card. You will have to give the customer care representative your credit card number, so ensure you have it handy. You can find this number easily on your billing statement. You can also report your loss online; however, placing a call is recommended. The other details that you should have handy while reporting the loss is the date and time you noticed that the credit card was missing and the last known transaction that you made.
Once you have contacted the credit card lender and informed them about the loss, send them an email confirming the same. This will serve as written proof in case need arises. The same details that you provide the customer service representative should also be sent on email so your account can be tracked easily and blocked.
You will liable for a payment of up to $50 if there are transactions that have been done on your card after you have lost it. However, if the transactions are made after you have reported the loss to the bank, you will not have to pay any money from your pocket.
If you have availed protection against theft and loss of your credit card, then, you will not have to pay any amount to the bank even if the transactions have been done on the card before you could report the loss.
One of the easiest ways to keep track of the safety of the card is by checking your billing statements each month and ensuring there are no suspicious transactions on the card. keeping your card safe at all times is a priority if you donЎЇt want to end up paying for something you have not spent for.