Smart Ways To Claim Your Stolen Or Lost Credit Card

Chennai: Have you lost your credit card? Or Are you scared of losing it? If yes then be careful!  Credits cards are very handy when compared to cash but if it is lost or stolen then it is equally dangerous. A lost or stolen credit card can cause a lot of damage, especially if your credit limit is high. Because your money is hard earned not free that you can let go. Once if your credit card is lost or stolen try to claim it.

Here are some of the tips that will help you claim on lost or stolen credit cards it as listed by The Economic Times.

Report about your lost credit card

The first and foremost thing that you should do is reporting your card issuer about your missing credit card the moment you find it misplaced. Most often the card issuers will print their customer care contact numbers on your monthly bill statement or if you don’t have the statement with you try to access your credit cards details online and send a report to the issuer. Keep in mind whenever you contact your card issuer keep following things ready with you for instance your account number, the date you noticed your card was missing and the date and last purchase amount. Even if you contacted the card issuer by phone once it is better to follow up by writing a letter to them with all the details attached this can be proof that you informed the issuer about the loss.

How to deal with unauthorized charges

 I f any fraudulent charges are made with your stolen or lost credit card the Fair Credit Billing Act (FCBA) protects you those charges.  It is seen that under federal law it is said that if any unauthorized charges are made with your credit card, the maximum amount you that you will be liable is almost $50. Instead if you report about the loss of your credit card before then you have no liability. Thus it is mandatory to report about your missing credit card as soon as you find it misplaced.

There are any credit cards issuers have some type of protection benefits that will help you eliminate your liability for any fraudulent charges as soon as you report about the missing of the card within certain period. Enquire about such benefits on your credit card with your issuer. Also keep a check on your on billing statement for a few months after the loss to see if any unauthorized charges are made using your credit card.

Take measures to prevent future Loss

Beware! In case of your credit cards your credit limit will be in danger if you lose it. Few measures you can take for not losing your cards are as follows:

1. If you are an owner of more than two cards try to carry the cards that are essential for your daily expenses and leave other cards home, or if you want to carry all the card then every time keep a check on your cards.

2. Placing your cards in the pockets might increase the risk of falling off.

3. Replace your purse if the places where you keep your cards have torn off. Buy a new card holder where you can place your credit cards securely.

4. Jolt down all the contact lists of your card issuers and keep it safe so that in future whenever you lose your card you can contact them immediately and report them about the loss.