If you’ve had your credit card stolen, what should you do? Here are some tips on protecting yourself
- Report the lost or stolen card to your credit card issuer,
- freeze your credit
- place a fraud alert on your account.
Some credit card issuers even offer zero-liability cards. But you should make sure to know the limits of your coverage. And as always, you should never accept a free card, no matter where you found it.
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Avoiding falling victim to credit card fraud
Keeping a watch on your account’s transactions is the greatest approach to prevent credit card fraud from happening to you. You can identify if your card has been used abroad or if you have made purchases through a fraudulent website. To be sure you haven’t made any unauthorized transactions, frequently check your account statements and credit reports. Contact your credit card company right once if you suspect that your card has been stolen. Learn about indigo credit card login.
Most credit card companies publish a toll-free number that you can call to dispute fraudulent transactions. You can also inform the credit bureaus that your card has been lost or stolen.
An excellent starting step is to obtain an annual credit report. Due to the fact that your payment history affects your credit score, it is concerning if it displays a pattern of unpredictable spending. Fraudsters will often use your credit card to make purchases without your knowledge. This can result in your score going down. Being proactive in battling fraud is the greatest method to prevent becoming a victim of credit card theft after your credit card is stolen. You should never confront a fraudster in person. You should also avoid visiting websites that seem sketchy or untrustworthy.
Reporting a lost or stolen card
Once you discover your card is missing, contact the bank or credit union that issued it. If it has been stolen, call the police and report the theft. Review your account statements for any unauthorized purchases and contact the bank immediately. Observe all transactions, and hold onto copies of all communication. Additionally, it’s critical to keep track of contact information and fraudulent transactions. Once you know where to begin, reporting a credit card as lost or stolen is simple.
Review your monthly statements for unauthorized charges. If you have automatic payments, note down the bill numbers. If possible, label each bill with the card information and bank name. Monitor your credit for several months to identify any unauthorized charges. If your card is lost or stolen, you may notice a slew of fraudulent charges you had no idea about. By contacting the credit card company immediately, you can limit your liability to $50 for the charges.
Place a fraud alert or freeze your credit file
A fraud alert is a way to protect yourself from identity thieves. You can put a fraud alert on your credit file after your credit card is stolen to stop new accounts from being opened in your name. While a credit freeze will prevent identity thieves from opening new accounts in your name, it will not stop them from using your information to open existing ones. To make sure your identity isn’t stolen, you should check your credit reports regularly. Some banks have a KYC process that prevents fraudulent activity. Each credit reporting agency, including TransUnion, offers free credit reports, so you should think about requesting both at once. Both services are free in 2018, and there are some common situations that warrant them.
The freeze will last for three years unless you request a longer-term one. During that time, it can be lifted if you need to apply for a loan or open a new account. To lift the freeze, you need to contact the credit bureaus and give them your PIN. They accept phone calls and online forms. Up to three days may pass before the procedure is complete, but the agencies will notify you as soon as they have the PIN.
Avoiding falling victim to card-not-present theft
It’s crucial to take a few easy precautions in the event that your credit card is stolen in order to prevent being a victim of this crime. First, notify the card issuer of the theft and provide your identity details. Make sure to keep a note with emergency contact details separate from the card. Secondly, you should obtain a backup card – either a credit card or a prepaid debit card loaded with funds.
Third, you should report missing credit cards to the credit card companies immediately. You should also review your monthly bills and check for unusual activity in your accounts. If your credit card is stolen, you should report it to the credit card companies and the credit bureaus as soon as possible. Once you’ve reported it, you’ll need to check your credit report for fraudulent activity and get your card back.