Tuesday, July 24, 2007

Wireless Credit Card Terminal

Lost or Stolen Credit Card? Here's What To Do
By Jill Kane

Unfortunately, purses and wallets become lost or stolen every
day. The missing credit cards in your purse or wallet become
the biggest concern.

Do you know what to do if this happens to you? Well, you should
because a few simple steps can save you a lot of headache. It
really isn't difficult to develop an action plan for your lost
or stolen credit cards.

All major credit card companies have policies to protect you
from loss or theft. You just need to know how to get their
policies working for you if your cards become missing.

The first step is to contact your credit card companies to
report your missing cards. Many companies offer a toll free
number or an online service to handle this type of problem
specifically.

Fortunately, federal law states that your are only liable for
the first $50.00 of fraudulent charges made to your account.
However, you are still required to report the card lost or
stolen and if you do so prior to any fraudulent charges, you
are not liable for the $50.00 charge either.

Be sure to carefully review your statement for any charges that
don't belong to you. And, if there are any fraudulent charges to
your account, notify your credit card company in writing
immediately.

When your send in your written notification be sure to mail it
to the billing errors address. Do not send it with your payment
as it will probably become lost and never get recorded.

A lost or stolen debit card works somewhat differently from a
credit card. If you report the card lost or stolen before it is
used you are not liable for any charges, however, if you wait
for even two business days you may be liable for up to $500.00
of any fraudulent charges made with your card.

After you have reported your missing card, be sure to review
your statements carefully for any fraudulent charges. You
should call, as well as, follow-up with a certified letter
regarding any issues with your lost or stolen card. This added
step will help to eliminate any liability on your part.

Also, remember to have your credit card contact information in
a safe place where you can quickly access it if needed.

Of course, the best way to avoid these problems is to keep
careful track of your credit cards. Know where your credit
cards are at all times and keep your pin numbers secret. Also,
be sure to use pin numbers that are not easy to figure out,
such as your date or birth.

Most importantly, be prepared to contact your credit card
companies via telephone and in writing as soon as possible in
the event your cards become lost or stolen.

About the Author: Jill Kane is an author for
http://www.yes-credit-cards.com/

Source: http://www.isnare.com

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