How To Protect Yourself If Your Credit Cards Get Lost Or Stolen

Over the years credit cards have indeed become very famous; it is used by millions of people all across the globe. So naturally identity theft risk is very high when consumers loose or have their cards stolen.

Here are some ways to protect yourself if your credit cards get lost or stolen:


Well firstly notify the credit card company of the loss. As soon as you figure out that you do not have your credit card with you, you need to contact the credit card service provider. Calling them is the best way to deal with it as it will be easier and faster. The info on what to do and whom to call when this happens is right there on your credit card agreement that you received initially from your credit card company. However, if you have misplaced or can’t find the information, you are still not liable for any charges not made by you as soon as you report and declare the card as lost or stolen.


There are few credit card service providers that require you to call as well as write to them. In that case, it will be in the credit card agreement, so be careful to check this kind of stuff carefully when getting a credit card or reporting a credit card as lost or stolen. Most credit card service provider require written notification within 7 business days following the verbal contact of loosing or having your credit card stolen. Technically speaking your liability is activated upon verbal contact and released upon written contact.

Depending on who has been using your card when it is reported as lost determines your net liability. For instance, you immediately loose liability if your credit card is lost in public. You become liable if the misuse is by someone you have given permission to use your card or by a joint account, such as your ward or spouse. However, you are not liable for phone and internet use but you are liable for a portion of the use of credit for food purchases.

In short following are the things that you should do if your credit cards get stolen.

• Keep your credit card agreement somewhere safe and accessible.
• Notify your credit card service provider immediately about the loss of your credit card.
• Check whether you require writing to the credit card company as well as notifying them via phone.