Lost Credit Card? What Should You Do?
Your credit card would most likely be among the first three things that you would hate to lose. Unfortunately, it remains one of the highest misplaced items in the US. A lost or stolen credit card can become the source of major nuisance, especially if your credit limit is high. If you find yourself in this situation, you should know what steps you should take immediately:
Report to the Card Issuing Company
The moment you suspect that your credit card has been lost or stolen, report to the card issuer without wasting a minute. You can find the contact number on a recent copy of your credit card statement.
Before calling the issuer, try having the following information at hand:
- your account number
- the date you realized your card was missing
- the date and amount of your last expense
Follow Up With a Letter
Even after you reported to the card issuer by phone, it is advisable to follow-up with a letter which will state that your credit card was lost or stolen. The letter should also include additional information like your account number, date of loss or theft, a date the loss was reported on a phone, and the date and amount last authorized the transaction. This letter will serve as proof that you have already filed a claim.
Call the Credit Bureaus
Contact one of the three national credit reporting companies, inform them that your credit card has gone missing, and request for a fraud alert to be placed on your credit report.
Dealing with Unauthorized Charges
If unauthorized charges are made to your card before you filed the claim, the card issuer might ask you to pay $50 of fraudulent charges. However, if the charges are made after you submitted the application, you have no liability. Therefore, you should make sure to report the missing credit card immediately.
Check Your Card Statement Carefully
Keep a check on your credit card statement to identify any transactions that were not made by you. If there has been an unauthorized transaction after you filed the claim, contact the card issuer again and inform them about it.
You should take these steps even if your credit card has just been misplaced and not stolen, only to be on the safe side! Hope this post can help with the lost credit card.