Lost Or Stolen Atm Or Credit Cards

It has happened to all of us. We leave our credit or ATM card behind in a store, sometimes not noticing until the next time we reach for the card. Even worse, your card may have been stolen from your wallet or purse while shopping or in a crowded area when we are distracted by the kids or other events.

"An ounce of prevention is worth a pound of cure" - wise words! Make it a habit to always check that you have your credit or ATM card after making a transaction. Even if you feel rushed by someone behind you in line, step aside and make sure you have your credit or ATM card, your receipt, and all of your purchases. Remember this also when your card is being used with an ATM machine or buying gas with a card. Don't forget it!! Always store your card in the same place in your purse or wallet.

OK, so it still happens to all of us. Another preventive step you can take is to be familiar with the policies of all your credit card and ATM card companies' rules about your liability for lost or stolen cards. Most companies offer free protection; others require a small annual amount to provide you this service. Highlight the policies, notification phone number, and reporting procedures for each or your cards and file away so it is easy to find when you are in a panic because of a missing credit or ATM card.

When you notice your card is missing, try to remember where you last used it. Most stores will keep any cards left behind, so either call or go back to enquire. If you can't locate your card within an hour, or you can't remember when you last used it, you must contact the corresponding card companies immediately.

At this point, you go back to your highlighted policies and procedures. Most credit card or ATM companies have a customer service number that will give you the recorded phone option to "report a lost or stolen card". This choice on a phone menu will usually connect you with a real person. You will need to cancel your account and set up a new account once you report your card as missing or stolen.

When traveling, keep a list in your blackberry or pocket calendar of the telephone numbers to call for each credit or ATM card you may be carrying. There is nothing worse than confronting this situation and not having access to the contact numbers.

Per law, the credit or ATM card company may not charge you more than $50 for any fraudulent use of your card after it has been reported as lost of stolen. However, if you wait more than two days to make the report, your liability goes up to $500.

We hope these helpful, common sense tips assist you in guarding the security of your credit and ATM cards.

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