How to Handle a Lost Credit Card (or worse...a stolen credit card)

If your credit card is lost or stolen, act fast. Here's what to do.

Difficulty: Easy

Instructions

1. **Report It**
   
   Call up Visa, Mastercard, American Express, your bank... whoever sends you your bills... and let them know the card has gone missing.
   
   They will probably cancel your account right away, which can be a pain, but it's better than the alternative of having someone make illegal use of your card.

2. **Keep Records**
   
   It helps to have your account number available, and to know the toll-free phone number to call to reach customer service for your credit card.
   
   But of course, that information is on the card itself, which is now missing! So keep it available elsewhere. The necessary information is on your monthly bills, but I also keep it available in password-protected files on my computer for ease of access.

3. **Know Your Rights**
   
   Most credit cards these days offer liability protection, so that you're not responsible for unauthorized use of your account beyond a minimal amount (for example $50). Review your account terms of service *before* any loss, so you know what protection is offered.
   
   The liability protection may not kick in until the loss or theft is reported, so act quickly.

4. **Think Prevention**
   
   Of course, the best option is to not lose your card in the first place. Take steps to avoid loss or theft:
   
   --Don't say your card number out loud (over the phone, for instance) when others can hear you.
   
   --Keep an eye on your card when you give it a merchant or waiter.
   
   --New roommate? Keep your card's location a secret. this is especially advisable for student credit cards in college living situations.
   
   --If someone goes through your trash, will they find your credit card bills, and other identifying information? Take steps to prevent this.

5. For more information on making the best use of your credit cards, see the More Articles Like This, and Related Articles features elsewhere on this page.

[Alrady]

on 4/27/2009 good tips and great advice. there are services that will track all numbers for you and all you need is one report. thanks for good article..