Have you reported the loss of your stolen credit, ATM card or debit card? Luckily, I’ve been fortunate to have never had my wallet stolen so I haven’t had to mess with it. I have had two minor cases of identity theft, and that was a nuisance in itself. This guest post is by Debbie Brown and she shares what to do when your credit card is stolen or lost.
Credit card is the most common financial accessory that people possess. Whether they are buying from stores or shopping online, credit cards are an integral part of our lifestyle. But are you aware that your credit card is like a key to unlock your account details? Yes. There are numerous scammers hovering around you to take a sneak peak into your purse or hack your card details online perhaps with a deadly Trojan!
Most credit card holders feel that they are smart enough to spot a scammer. However the fact remains that within a bat of an eyelid or might be within a click of your mouse, your credit card will be ripped off. FBI has surveyed and found out consumers have to incur a heavy loss of around $125.6 million as seen in the last year due to these swindles. During this economic turbulence, when money is scarce and people are running into debts, it is essential that you become careful. Recession has increased these fraud activities. As a result it is you who will run of money. So if you are using credit cards or ATM cards or debit cards, you must know about certain things in case your cards are stolen. Did you know that the Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offers a number of procedures for the safety of your cards?