PREVENTATIVE MEASURES:
*Always return the card to the same place in your wallet every time. Ignore the glares from the people in line behind you and take the ten extra seconds to put it away.
*Never carry more than two cards. You’ll be able to tell at a glance when one is missing, and if your wallet is stolen, you won’t need to make frantic calls to a dozen different places.
*Keep the customer service numbers in a safe place. Placing a note inside your wallet or on your PDA is not considered safe; if the thief makes off with one of those items, he’s got access to your life. Compile a list of your credit cards (scrambling the account number in a manner you’ll remember when under stress , like swapping the last four digits around) and the customer service telephone number for each. Send yourself an email containing this information, and tuck it away in a folder. You can go online anywhere in the world, go to that folder and have the info you need within seconds.
*Watch the ID number on the back of the card, especially in restaurants. Anyone that has your card out of your sight for more than a couple seconds can steal your ID number, and then the world is his online. Most banks won’t go to the trouble of tracking down a petty internet thief, they’ll just cancel your card and issue a credit back to you for whatever the thief charged. The trouble is, most thieves know this and we make it easy to charge to our account when we hand over our credit cards with the ID number in plain sight. The solution? Use a black marker to cross off the number after you have completely memorized it, or have written the number down someplace safe. Any time you order online or over the phone, the ID number will be requested. As long as you have called them, it’s just an added security step. On the other hand, if the company called you-even if it’s claiming to be one you regularly do business with-do not give out that number. Doing so gives carte blanche to your account.
WHAT TO DO IF THE CARD IS STOLEN:
*As soon as you realize a card is missing, retrace your steps. If possible, return to the last place you used it, or call. They may have the card waiting for you in their safe. It’s still a smart thing to call and cancel it anyhow, because while the card is out of your possession, it can be compromised.
*If your wallet is stolen, call the police. They’re probably not going to catch the guy, but it will show your credit card company that you did the responsible thing by reporting the theft.
*Call the bank immediately. Explain the circumstances, letting them know why the card needs cancelled, and set up for a replacement card. Be sure to make notes as to when you reported it, who you spoke to and what was covered in the call. That way, if there’s any problems with charges to the account, you’ll have the backup you need.
*If you lose a credit card, you are only responsible for the first $50 spent fraudulently. If you lose a debit card, your checking account could be drained dry. While your bank should cover the theft, it does take several weeks to get the money returned to your account.
*Once you receive them, go over the statements on the stolen/loss card and call the bank if any of the charges are not yours.
Remember, it’s not the end of the world if your card goes missing, it only seems that way for a few moments. You bank is on your side, but make sure you report the loss or theft in a timely manner, or they may not be so friendly about it!