How to Protect Yourself From Unauthorized Credit Card and ATM Card Charges

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By koalagifts
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Oh no! Who ran up my credit card bill?

You can protect yourself from unauthorized charges on your credit card and ATM card accounts.

Difficulty: Easy

Instructions

Step 1

You can be responsible for unauthorized charges made with your lost credit card or ATM card if you don't report the loss immediately. A lost credit card or ATM card found with your wallet can give someone enough information to make purchases on your account.
Step 2

Find the phone number you need to call if your credit card or ATM and debit card has been lost or stolen. It is almost always on the back of your cards but unfortunately this is not much help when you have a lost a credit card or ATM and debit card! To find the phone number, look at your billing statement, or if you share an account with a family member, it will be on the back of their credit card or ATM and debit card.
Step 3

If you still can't find it, call information or go online to find a toll free 24 hour customer number for your credit card company or ATM card bank provider.
Step 4

Call the customer service phone number for your credit card company or ATM debit card bank and tell them you have lost your card. They will direct you to the correct department.
Step 5

For a lost credit card, once you have reported the loss you are protected under federal law against unauthorized charges and the maximum amount you can be liable for is $50 per lost credit card.
Step 6

For ATM and debit card the rules are different. How much you are liable for depends on how fast you notify your bank. If you report a lost ATM and debit card within two days of realizing you lost it, your liability is limited to a maximum of $50 just like the credit card. But after two days you could be liable for a lot more, even all the unauthorized charges! So don't delay! Report your lost ATM and debit card immediately if you want don't want to be responsible for unauthorized charges
Step 7

To protect your identity report the theft to credit bureaus. Call immediately. There are three credit reporting agencies, and here are the telephone numbers that will help put you through to a live person.
Equifax 866-640-2273, Experian 800-493-1058 TransUnion 800-916-8800. If you call even one, your credit card and ATM and debit card loss has to be reported to the other two. All three companies will create a fraud alert on your report. If there is enough information in your wallet for someone to open new credit card accounts in your name, there is no way to keep someone from using the information in the future. Keep the fraud alert on your credit report by asking the credit card companies to put an extended fraud alert on your report. This will stay on your report for seven years.
Step 8

Call the police and file a police report if you think that there If there is enough information in your wallet for someone to open new credit card accounts or make unauthorized credit charges. The police report will make it easier to prove that you are not liable for the unauthorized charges.
Step 9

Contact the FTC at (877) 438-4338 because Federal investigators monitor identity theft crimes of all levels to find patterns and break up larger rings.

Fill out the ID theft affidavit on their Web site, make copies and send them to your creditors. Together with a police report, will help you dispute fraudulent charges.