Are you familiar with that sinking sensation that usually comes when something is missing? Like when an item of value mysteriously disappears knowing that you're holding it a moment ago.
The feeling will but escalate to panic when one realizes that the familiar rectangular plastic is nowhere to be found.
Alas! Your credit card is MIA.
What will you do? In situations like this one, time is of the essence.
Upon its loss, immediately contact the card company-whose number is reflected on the back of your credit card.
Or go to the website of your service provider and get the contact information there.
Be prepared to answer verification questions relating to your credit card.
These may include your social security number, billing address, your birth date, your mother's maiden name, and the like.
Most probably you'll also be asked for your card number, and to be honest the number of individuals who memorized their full account number is slim.
Just grab your latest billing statement and the details are there.
Moving on, as per your instruction or upon your notification, your service provider will cease receiving further charges, though you will be asked to handle all online bills linked to your account.
If your card was used after you've flagged the company about the loss, you can file a fraud claim.
However, this will depend on the policy that you're covered with.
Most card companies have zero liability clause where a card holder will not be responsible for any fraudulent charges.
Yet there are still other financial institutions that don't implement such policy.
But then again, there is a ceiling.
The maximum liability on the card holder is at $50 per credit card, meaning the highest possible amount you have to pay for unauthorized purchase is $50.
In addition to contacting your service provider, you should also call one of the three national credit bureaus (Equifax, Experian, and Trans Union) and tell them to put a fraud alert on your credit report.
A new card will be issued but it will normally take a week or two to receive the new one.
If you really need the card ASAP, you can explain such urgency to the company and they'll send it to you within 2 to 4 days.
These are the steps to undertake when one loses or gets his credit card stolen.
Identity theft is rampant and the likelihood of fraud is unspeakably real.
Don't take it lightly.