What To Do When Credit Cards Are Stolen or Lost
Fri Mar 23, 2007 8:39PM EDT
See Comments (77)
I lost my purse one night this week after my daughter's basketball game an hour from our home. By the time I tracked it down to a chain coffee shop, one of my credit cards had already been used a few times along the northeast corridor from New Jersey to Massachusetts.
The good news is my purse and all the other contents of my wallet are back in my hands. The bad news is I've spent lots of time doing damage control on my credit status, hoping a few full tanks of gas is the least someone will try to steal in my name.
I'm sharing this to pass on some tips about what to do if a credit card is lost or stolen and you're worried your credit may be compromised.
• Call to report the card missing. When I called my card's 800 customer service number, I found out about the gas station charges that were not made by me or my husband. So I closed the account and requested a new card. Then I immediately canceled the other credit card in my wallet, and my ATM card.
• Find out what you need to do to dispute fraudulent charges so you are not responsible for them. Review your next bill very carefully. My card company is sending me a letter outlining the disputed charges, and if I concur they are all listed, I'll sign it and send it back.
• Place a temporary, 90-day alert on your credit report to thwart thieves from opening accounts with your credit history. You can place the alert through any of the three major reporting bureaus, Experian, Eqiufax, or Transunion. Whichever one you choose will notify the other two of the alert status.
• Review your credit report. When you place a temporary alert on your credit report, you can view your credit report for free right away. This is a good time to remind you that we should be checking our credit reports with all three credit bureaus at least once every year. Each allows free reviews once every 12 months. Check out Chris Null's cautionary tale about what happened when he did his regularly scheduled credit check. You can request reports from all three bureaus on one web site, AnnualCreditReport.com. Check back to see if there is any suspicious activity, such as accounts opened that you didn't open, if you have a missing or stolen card.
I also canceled my ATM card even though there had been no activity on my bank account. The new one that I'll get will have my photo on it, a deterrent to any thieves who may pass off a debit card as their own.
That's my after-the-sad-tale advice. But here are some tips from the Federal Trade Commission and Consumer Action, a consumer education and advocacy group based in San Francisco, for how to protect your cards and credit in case of theft.
• Carry only the cards you anticipate you'll need to use.
• Don't carry PIN numbers for your ATM or credit cards in your wallet or purse. Seems like a no-brainer, but you never know. Don't use birth dates, addresses, Social Security numbers, or phone numbers as your pin numbers. By the way, don't carry your Social Security number in your wallet or purse, either.
• Keep a record of your card numbers, expiration dates, and telephone numbers of each card company in a safe place (say, not in your wallet or purse) so you can report a theft quickly.
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47 Posted by richhs2000 on Thu Sep 3, 2009 8:40PM EDT Report Abuse
Why make photocopies? You get a statement every month with your account number and a phone no. to report stolen cards, etc. You photocopy people are severely paranoid. Get a life!
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48 Posted by jo_ann_burns on Thu Sep 3, 2009 4:42PM EDT Report Abuse
It says do not carry your social security card with you. My Mom left hers at home in a drawer, and somebody broke in and stoled it. They used it tpo set up new accounts, and are now charging large amounts on accounts that she never had. So, how did that save her from credit card fraud?
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49 Posted by debjean@pacbell.net on Thu Sep 3, 2009 3:40PM EDT Report Abuse
Some good advice to follow but sometimes when you think you have covered all your tracks, they still find away to seal from you. My husbands debit card was being used at the same time in 5 different cities in the Los Angles area. They drained my husbands checking and savings account in a matter of hours. Somehow they got the debit pin number and made a bunch of cards and had fun. We had no idea that this happened until we were denied a purchase. Got a new card, got paid all our money back (thank goodness) and in 6 weeks it started again with his debit card being used in Glendale. Now we cannot figure this out. Neither can the bank and now the bank told us to take our business elsewhere in a nice way. They said they can't afford us as customers anymore. Makes me feel like we are the bad guys.
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50 Posted by skookumpaws@sbcglobal.net on Thu Sep 3, 2009 9:26PM EDT Report Abuse
If you travel to Canada and use credit / ATM cards the store clerks there WILL check for a signature on the cards.....had one store refuse to take my unsigned card, She stated "This is not a valid card without a signature" I observed that the they hold the card until you sign the recipt, then compare the signature and return the card if it matches....This happened to all that I observed...WOW talk about security.
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51 Posted by lilroh5305@sbcglobal.net on Thu Sep 3, 2009 6:51PM EDT Report Abuse
Carry the credit cards/ATM card that you anticipate to use in your pocket (preferrably front). Do not carry any purses to large crowded places (for example a sport game, a fair or amusement park). If you do carry a purse keep your cash and your cards in a secure pocket of your pants. Carry nonvaluable items in your purse. Carry only 1 ATM card and 1 major credit card, and enough cash for you to spend for certain day(s). Be careful ordering items online especially from companies that you don't know. I also agree with keeping a photocopy of the front and back of your credit cards. That's a good idea! From my experience, there are department stores that do not even bother to look at your ID when using a credit card, which should be done.
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52 Posted by chris.braun1@verizon.net on Thu Sep 3, 2009 3:24PM EDT Report Abuse
My husband and I both have see I.D. on the back of all our credit cards. Most places we have shopped will ask to see our I.D. and some do not. I have just gotten to the point of when I use my credit card I automatically pull out my drivers license and give both the card and license to the clerk and that way I don't have to worry if they are going to ask to see it or not.
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53 Posted by aejrogan2k@sbcglobal.net on Thu Sep 3, 2009 2:46PM EDT Report Abuse
Credit issuers need to do a lot more to assist people in these situations. Most people do not have a list of their account numbers or the contact numbers available at the moment they need to report the cards missing, and this is the information requested when you do call in - there should be some other way to identify yourself so that you can close your account. Also, depending on where you are when you lose your card, there may be a time difference between your location and the office you are calling. Not all places have 24 customer assistance and while you're waiting your card is being used. Lost or stolen contact numbers should be manned 24-7, with one-button, direct access to a human who is not outsourced. One tip I can recommend is that if you are traveling that you notify the creditor of the card you are carrying. If you let them know you'll be in Las Vegas and something happens, they should be suspicious of a purchase in Topeka. You should also be careful of using a card before and after a flight; the transactions from two different locations in a short period of time is a flag. Same with a gas card - I've used a card in NYC and driven the 8 hours home to find out that my card wouldn't work when I tried to refuel because it looked suspicious. Good luck out there.
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54 Posted by madisonmoore80 on Thu Sep 3, 2009 7:03PM EDT Report Abuse
great ideas! one thing i did was program customer service numbers into my cell phone to call immediately for all my bank cards. i also made copies of every card i keep in my purse which doesnt include my social security card. i never carry those small bank cards made for key chains because i lost one once without even realizing it until a neighbor found it outside and brought it to me before anyone else had the chance to steal it and use. i also keep a list of all the items i keep in my purse which is usually a lot of things needed for everyday use so i dont have to remember anything in case i have to get a new one.
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55 Posted by tiffanywade3 on Thu Sep 3, 2009 10:08PM EDT Report Abuse
Why aren't stores liable when someone uses a stolen card? Isn't it their fault for not checking? How can this be right?
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56 Posted by astanoch on Thu Sep 3, 2009 2:58PM EDT Report Abuse
Heres one- On the back of my credit and debit cards it says in bold letters "NOT VALID UNLESS SIGNED". Does that mean nothing? And where does that play into things? If one was to write CID is that considered signed?
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57 Posted by hskov1 on Thu Sep 3, 2009 4:21PM EDT Report Abuse
Obviously this is credit card oriented. But don't forget the thief had your address and keys. I would change house locks.
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58 Posted by horsebtr@pacbell.net on Thu Sep 3, 2009 4:20PM EDT Report Abuse
On the subject of stolen or lost credit cards, my Drivers License has my P.O. Box. Also, I do not keep anything in my car that has my residential address on it.
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59 Posted by mikelehman2003 on Thu Sep 3, 2009 7:19PM EDT Report Abuse
New copy machines keep electronic copies on internal disk drives. So be careful WHERE you copy things. This information can be retrieved and reprinted.
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60 Posted by ramcorporation on Thu Sep 3, 2009 8:27PM EDT Report Abuse
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61 Posted by sweetestcaramel69 on Thu Sep 3, 2009 9:51PM EDT Report Abuse
i work at a hotel and i require all my staff to check ids on credit and debit cards transactions. most guests are surprise that we ask to checked their ids and others will accuse us of trying to steal their identity.
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62 Posted by n8dogg2001 on Thu Sep 3, 2009 7:32PM EDT Report Abuse
I love when people come in my store with "see ID" written on the back. Chances are, if I look up, I will find a knowing, smug, self-righteous face looking back at me. "I'm really smart for coming up with this idea. PLEASE don't check my ID so ill have a story to tell all my friends; along the lines of 'it says to check ID but they never do!'" When you get your card, it says to sign immediatly after you have called to activate your card. The fine print ON THE CARD goes on to say "card not valid unless signed." I adhere strictly to that policy. You can't pay with an invalid card. If it's not signed, who cares if I check your ID? Where is the other signature to compare it to? Also, what if someone just found an unsigned card and wrote 'see ID' on there? Their ID would work, wouldn't it? In my time, i've seen some pretty convincing fake IDs. "That's my old last name. I got married and havn't changed it yet." "I dyed my hair." "It's my fiancee's card." Any simple explaination will do. Heard it all, but it's hard to make a fake signature look real on forged documents. Follow directions...Sign the durn card. Until then, how do I know you from a criminal? We just met, remember?
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63 Posted by tiggerlina77 on Thu Sep 3, 2009 10:10PM EDT Report Abuse
I used to work in Retail and I saw many People not signing their Creditcards or got angry if were would ask them for their I.D.s. If you would them to sign their Cards they would reply ( no, because People can copy my Signature) which is not true. If youre Card is stolen the first Thing Credit Companies are asking is : was youre Card signed? If youre Card is signed and a Store accepts them even though the Signature does not match the Store gets a Chargeback. So sign those Creditcards.
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64 Posted by tiggerlina77 on Thu Sep 3, 2009 10:10PM EDT Report Abuse
Sign Youre Credit Cards since this is only for youre own Protection.
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65 Posted by mdwlv4c@sbcglobal.net on Thu Sep 3, 2009 7:14PM EDT Report Abuse
I'm actually a Credit Card Fraud Investigator with a major bank. The merchants only obligation per visa and mastercard regulations is to get a signature on all swiped transactions. It does not matter if the signatures match, so the merchant does not need to worry. My bit of advice is whenever a card is lost or stolen ask the credit card company for the latest authorizations, so you know what is fraud. And it is very important to check your next few statements. Remember you are not responsible for late fees, overlimit fees or finance charges that accrue due to fraudulent transactions. However, always make your minimum payments if there is a valid balance on the account not due to fraud. The credit card companies do not have to remove the overlimit or late fees if you fail to pay on the valid balance. Rule of thumb, find out what is fraud and subtract that from the balance on the account if credit has not been issued.
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46 Posted by janet.idowu@sbcglobal.net on Thu Sep 3, 2009 4:28PM EDT Report Abuse
I'm surprised that so many people are saying that they are never ID'ed when they use their cards. I am always ID'ed when I use my credit card or my debit card with the credit option. I appreciate when the cashiers make the extra effort to ask for my ID, but I also wonder why I'm the only person being ID'ed.