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Was Your Credit Card Stolen? Here’s What You Should Do

credit-card-fraud2

Have you come to the conclusion that your credit card has been stolen?

Regardless of why you believe this to be true – such as if someone stole your entire wallet or purse – you need to take immediate action. Sitting back and hoping that your wallet is returned isn’t a mistake you want to make.

If you don’t act fast, there’s a good chance that your credit card will be used in a fraudulent manner. While it’s not likely that you will be responsible for fraudulent charges, it’s best to minimize the risk of this happening.

Here are a few of the most basic steps you can take:

•    Contact your credit card company immediately. They can cancel your credit card and issue you a new one, thus getting you back on track sooner rather than later.
•    Request a free copy of your credit report. Do you see anything strange? Do you need to dispute an error? Don’t wait to take action.
•    Add a security alert to your credit report. You can do this by simply contacting one of the three national credit reporting agencies and making the request. You only have to contact one in order for the request to be shared with the other two.
•    Implement a system for safety in the future. Even if you had no hand in your credit card being stolen, you still need to think long and hard about why this happened. The approach you take in the future may be able to help you avoid a similar situation down the road.

It can be extremely frustrating to find that your credit card was stolen, but there’s always a chance that this could happen to you. If you find yourself in this position, don’t wait to take the steps above.

Do you have any experience with this? What steps did you take once you realized your credit card was gone? What was the end result? Share your feedback in the comment section below.

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Comments 1

Wanderer on Sunday, 01 October 2017 05:32

Great advice! Will add that now it is suggested that we place "Security Freezes" on all of our credit so that we are alerted to credit seeking and it can not be approved without our allowing the inquiry to access our data bases (usually through the use of a PIN Number that only we have). In pursuing the credit freeze option, I found that it takes determination as not all credit information gatherers make it easy. Start with Experian, Equifax, Trans Union, LexisNexis, Chex Systems, Innovis, Sage Stream, IDA and ARS as the more mainstream providers. LexisNexis collects quite a broad base of information on us (way more than name address and social security number) and is a main provider to the Insurance Industry on Property & Casualty Ratings (also your State's Driver's License Information). We need to pay attention and NOT blow this Blog off as the Equifax Data Breach goes back father than July 2017. Equifax is said to have had the security patch for their latest leak clear back to March 2017 and did not bother updating their system. In truth virtually everyone of us had some information at the Equifax Credit Bureau so ... the only question remains what has hit the dark market for selling information?

Great advice! Will add that now it is suggested that we place "Security Freezes" on all of our credit so that we are alerted to credit seeking and it can not be approved without our allowing the inquiry to access our data bases (usually through the use of a PIN Number that only we have). In pursuing the credit freeze option, I found that it takes determination as not all credit information gatherers make it easy. Start with Experian, Equifax, Trans Union, LexisNexis, Chex Systems, Innovis, Sage Stream, IDA and ARS as the more mainstream providers. LexisNexis collects quite a broad base of information on us (way more than name address and social security number) and is a main provider to the Insurance Industry on Property & Casualty Ratings (also your State's Driver's License Information). We need to pay attention and NOT blow this Blog off as the Equifax Data Breach goes back father than July 2017. Equifax is said to have had the security patch for their latest leak clear back to March 2017 and did not bother updating their system. In truth virtually everyone of us had some information at the Equifax Credit Bureau so ... the only question remains what has hit the dark market for selling information?
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Friday, 23 August 2019

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