How Lost Or Stolen Credit Card Advice Can Save You Tremendously
If you are like the millions of people who have a credit card, then the chances are that sometime in your life you might either lose a card or have it stolen. Although this can seem like a true nightmare, keep in mind that there are various ways to sort this sticky problem out quickly and easily without losing your ability to spend money or losing money.
Here are some useful tips involving what to do when your credit card is lost or stolen, and how to prevent it from happening again and again:
Cancel Your Credit Card Immediately
If you know your credit card has been lost or stolen, cancel that card immediately at the first available opportunity. The quicker you take action to cancel that credit card then there is less of a chance that whomever has your credit card in there possession can use it and even better you can have a replacement credit sent immediately so you can continue using it however you feel necessary. It is a good rule for you to always keep your credit card company numbers in an easy access locations so that you can call them even if your wallet was taken so you can resolve this issue of you credit card being lost or stolen.
Review Your Credit Card Statements Frequently
It is a good common practice to review your credit card statement monthly or weekly especially if you have internet access to check your credit card balance. It does not matter if your credit card is stolen or not, you should regularly review your statements to check for discrepancies. If someone has possession of your credit card number or cloned your card then they could be making purchases on your card even if you still have it. If you see any suspicious transactions then contact your credit card issuer immediately. They will then take the appropriate steps to prevent not only future credit card fraud but also to contact the authorities regarding misuse of your credit card.
Be Careful With Paperwork That Has Any Personal Information Or Credit Card Information On It
Any paperwork pertaining to your credit cards should be kept in a safe and secure place out of reach to anyone who may possibly use it. If you are not keeping your credit card statements for at least a year and decide that throwing out old statements is your best bet then make sure that you dispose of them properly. The best way to dispose of bank, credit card or any other such information is to shred these items thoroughly so people cannot use them to get your account information.
Be Careful With Your Credit Card PIN (Personal Identification Number)
The chances are that even if someone obtains your credit card, you have a secure pin they are unlikely to use with your credit card. You want to make sure your PIN is not written down anywhere, especially near your credit cards or any other personal information. Also, you will never want to give your PIN to anyone, even friends and family no matter what the circumstances. If you PIN is secure then your credit card is going to be even safer.
Get Credit Card Protection Insurance
It is not always known that one of the best ways to protect your credit cards is to get protection insurance. If your credit cards are lost or stolen, then you are covered against any loss no matter what the charge. If you use an independent insurance company then you can register all your cards with them and report multiple losses at once. The registration company will also request new credit cards for you. This service is so helpful for those who have multiple credit cards but is just as effective even if you only have one.
Only Carry The Credit Cards You Will Need
Another way to stop loss or theft is to only carry the credit cards you need when you are out wanting to use that card. It is highly unlikely you will have a need for all your credit cards every time you go out. If you keep them at home then they are less likely to need replacing. Just take out what you need and you will develop a much better sense for what you can spend and what you can not.
Remember Do Not Panic
If you do have your card stolen or lose it, remain calm. If you follow all of these steps, then you will have a new card in around a week and you won’t lose any money from unauthorized spending. A good habit too is to not sign the back of your credit card. Write on the back where the signature block: See ID For Authorization. This will always make it super hard to utilize a credit card especially if there is not identification to support the purchase that a identity thief will attempt to use. There are many preventative steps that will deter someone from attempting to use your credit card. If you follow the lost or stolen credit
advice given to you then your chances of being able to recover from your loss will be much faster and you will experience a lot less stress with the whole situation.
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110 comments
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September 18, 2010 at 12:47 pm (UTC -6)
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