Report the loss immediately. Those four words are probably the most important words you can remember should you lose your credit card. Let’s look at this a bit more closely.
There is no debate that in the US more people are carrying credit cards and debit cards than ever before. The simple fact is that with millions and millions of credit cards being carried around on a daily basis some are bound to be lost. It should be noted that in this article the word lost can also be synonymous with stolen.
Two pieces of literature that you should be aware of are the FCBA, which is the Fair Credit Billing Act, and the EFTA, which is the Electronic Funds Transfer Act. These two documents along with the credit card company policy will give you a lot of solid information to use should you lose your credit card.
Here are some of the more important procedures that you should take as soon as you realize your card is gone.
In order to limit your loss should the card be used by someone, you must report the loss (credit card or debit card) to the card issuer as soon as possible. The vast majority of companies have a toll-free number for you to use for this...
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