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What to Do If Credit Card Theft Happens to You. In the event that your credit card is stolen in the United States, federal law limits the liability of cardholders to $50, regardless of the amount charged on the card by the unauthorized user.
Many credit card companies will replace your lost credit card for free. But depending on when you report the loss, you could also be on the hook for a small amount of any fraudulent charges made with your stolen credit card.
Federal law says you're not responsible to pay for charges or withdrawals made without your permission if they happen after you report the loss. It's important to act fast.
How to place: Contact any one of the three credit bureaus ? Equifax, Experian, and TransUnion. You don't have to contact all three. The credit bureau you contact must tell the other two to place a fraud alert on your credit report.
When you lose your credit card, you can avoid an impact to your finances by reporting the card lost or missing immediately. In general, a lost or stolen credit card will have no impact on your credit score. In most cases, you will not be held responsible for charges on a lost or stolen card.
When you report a card as lost or stolen, your credit card company will deactivate or cancel your current credit card number. The card number previously assigned to you will no longer be active and you will be mailed a replacement credit card with a new number.
If you notify your bank or credit union within two business days of discovering the loss or theft of the card, the bank or credit union can't hold you responsible for more than the amount of any unauthorized transactions or $50, whichever is less.
Your card will be deactivated once it's reported missing, so update any accounts where that card is used to make automatic or recurring payments. If you're traveling, be sure to pack more than one credit card, reduce your credit limits, and keep them in separate places to reduce the chances of losing them all at once.