smart spending

7 money-related things to give thanks for

Capped card liabilities
Capped card liabilities © mapichai/Shutterstock.com

Lost or stolen credit card? It's a pain, but at least your monetary losses are capped at $50, says Ulzheimer.

"The Fair Credit Billing Act has been around since 1975, but most of us have enjoyed its protections for as long as we've used credit cards," he says.

What you need to know: Report your card missing as soon as you realize it's gone, and you're not responsible for any charges made thereafter. Also, you're liable only for the first $50 worth of charges made before you reported it.

And your actual losses could be less. While the federal law limits your loss to $50 if a credit card is lost or stolen, these days many card issuers set your liability at zero dollars.

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