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Do-it-yourself credit
card protection kit
By Lucy
Lazarony • Bankrate.com
Some companies were charging for
protection that you already have, but to take advantage of those
protections, you need to be ready and act fast.
Your credit card emergency
protection kit:
- Take all of the credit cards out of your
wallet.
- Put each card on a copying machine and make
a clear copy so that all the numbers are legible. On that same
sheet, write down the credit card issuer's phone number, which
is available on the most recent bill or on the individual issuer's
Web site.
- Don't carry this piece of paper with you,
but put it in a safe place. If your cards are ever stolen, you
can quickly go through the list of numbers and protect yourself
from damage.
Then, if the worst does happen:
- Report the loss immediately to the card issuer.
Credit card issuers have 24-hour emergency service. Check your
statement for the phone number.
- If you report the loss before the cards are
used, the issuer cannot hold you responsible for any unauthorized
charges. If someone uses your cards before you report them missing,
the most you will owe for unauthorized use on each card is $50.
- Open billing statements promptly and compare
them with your receipts. Report errors immediately. Under the
Fair Credit Billing Act (FCBA), the card issuer must investigate
billing errors if your report them within 60 days of when your
card issuer mailed the statement.
- If you suspect fraud, you may be asked to
sign a statement under oath that you did not make the purchase(s)
in question.
-- Posted: Sept. 14, 1999
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