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How to Report Stolen Credit Cards

by Samantha Bennet on 2014/07/22

How to Report  Stolen Credit Cards

Knowing how to report  stolen credit cards can help you prevent others from being able to use your extended credit without your consent.

If your card gets stolen, it can really lead to disastrous experiences and you wouldn’t want to pay for something that you did not buy and got to use.

On the other hand, merchants need to report suspicious card transactions to prevent rejection and to prevent other vendors from falling victim to this type of scam as well.

Cardholders are given protection from fraudulent card transactions, all that you should do is to carefully read and understand procedures for lost or stolen credit card reporting.

Card providers have similar procedures for such event and phone numbers to call when reporting are usually found on your card, statements-of-account or billing and on your card issuer’s website.

To ensure that you are prepared for anything after card loss, write your card details on a secure place.  Reporting a lost card means that you will need to provide your full name and card number, so that customer care representatives will be able to block it for use.  Also, copy the toll-free number for your card issuer’s hotline.

Immediately after you noticed that your card is missing, call the card company and ask them to block your card and to place an alert for fraudulent use.  The longer you wait means the longer you risk getting your card used by the thief incessantly.

If you are a vendor, report stolen credit cards users to the police, so that the thief will be caught and others may be warned.

Finally, if you are keen about maintaining your credit score, immediately call the credit bureaus after you have reported your stolen credit cards to the issuer and the police.  This will prompt the bureaus to alert potential creditors/employers/business partners that your credit card has been compromised at a certain period.

Courtesy of CreditCardShoppe.com

 

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