Posted on April - 29 - 2010
What Should I Do if Someone Steals my Credit Card?
Having your credit card stolen can be a traumatic experience, but if you take action early you can prevent being the victim of a crime from hurting your credit and possibly costing you a lot of money.
As a preventative measure, you should periodically check your card statement for any unusual activity. Many credit cards use their own security measures and will contact you if, say, you live in Boston, but your card show a purchase made in Denver. But you shouldn’t count on that. Keep track of your own finances and confirm all of your purchases, even small ones.
Always report your stolen card immediately. All you have to do is call the bank and be sure to note the date and time when you noticed it was missing. The company will put a block on the card preventing it from being used. If you report the card stolen on the issuer’s web site, print a copy of the confirmation.
If you are sure your card was stolen (as in, you were mugged), contact the police immediately. Get a copy of the report in case your identity is stolen as well.
Finally, contact the three major credit bureaus and report that your identity is stolen. Place a fraud alert on your file so that no new credit can be granted with your approval. The three bureaus you will need to contact are Equifax (1-800-525-6285), Experian (1-888-EXPERIAN) and Trans Union (1-800-680-7289).
When the matter is resolved, spend the next few months being very diligent about your credit. Monitor your card expenditures and bank accounts. If you see anything out of the ordinary, immediately contact your bank or the police.
Click here to review your credit score and history.
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