Friday, February 3, 2023

What To Do If You Find Someone’s Credit Card

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I found someone’s credit card. What to do

If youve done nothing to compromise the security of your account, you should get your money back. But this isnt guaranteed.

Refunds can be delayed if the bank has reasonable grounds to think youve been grossly negligent with the security of your account.

If the banks investigation proves you were negligent, you might be liable for all the losses.

Examples of negligence include telling someone your PIN or password. However, banks cant simply say because your PIN or password were used, that the payment was authorised.

Banks can also refuse to give a refund if you tell them about an unauthorised payment 13 months or more after it left your account.

Find out more about unauthorised transactions, and what counts as negligence, on the FCA website

Responses To What To Do With A Lost Credit Or Debit Card

  • Anonymous

    I live in Las Vegas in the nightclub industry. Over the years I have found many wallets, purses, cameras, phones, keys, credit cards and just about anything else people carry with them. Although I do turn in most of the items to security or lost and found I usually keep the cash thats inside as a reward. I would expect the same thing from a person if it ever happened to me. Keep the money, give back the rest .Men are much more likely to offer a tip/reward for returning their stuff. Women on the other hand, are much less likely to give a reward so I just keep the money to avoid bein stiffed.

  • It just happened, and I immediately called the bank. I chose the option to notify a lost card, but got stuck several times when asked SS# or tax ID. Banks should have a courtesy option for found lost cards, my honest opinion. Anyhow, got the call answered. The representative got the card number and asked to thrash it. I actually shredded it.

    Dont expect to be highly praised, you are a hard to find honest person even if you dont hear a single word of thanks

    Well, the feeling and the assurance that you can do what is right even when opportunities happen is wordless.

  • Turning In A Missing Wallet

  • 1Create an inventory of the wallets contents. If you find an empty wallet, the owner can always claim there was money inside it. Although you cant completely protect yourself from that accusation, youll help yourself if you write down everything that is in the wallet. Type up a list in your smart phone. This will show you were careful about what you found.
  • Write down the amount of cash in the card and the denomination of the bills. For example, “$46. Two twenties, one five, one one.”
  • Write down the credit cards.
  • Note other contents such as the drivers license, insurance card, etc.
  • 2Avoid turning in the wallet to a business. All youre doing is turning the wallet over to a different stranger. Theres no reason to think that a store employee wont steal from someone, so hold onto the wallet yourself.XResearch source
  • Its perfectly understandable that you dont want the wallet in your possession for too long. In that situation, you can ask a store manager if you can use the phone to call the police.
  • 3Dont go searching for the owner. If you see a wallet drop out of someones jacket or pocket, you can pick it up and give it to them. However, if you dont know who dropped it, you shouldnt spend time searching for the owner, even if the wallet has a drivers license in it.
  • You also shouldnt mail the wallet back to them. You have no idea if the wallet will even reach the true owner.
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    Know When To Ignore Anyone Contacting You To Verify Your Account Information By Phone Or Email

    This could be a common scam, often referred to as phishing, to steal your account information. Banks and credit unions never ask for account information through phone or email that they initiate. If you receive this type of contact, you should immediately call your card provider and report it.

    For more information on phishing scams, check out the FTCs consumer alerts .

    For more information, check out the consumer advisory.

    Get In Touch With Your Credit Bureau

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    You must contact your credit bureau and inform them about the loss of your credit card. This will allow them to put a fraud alert and ensure that your credit score does not suffer in case the card is misused by someone.

    You must also check your credit report and report the credit bureau if you find any wrong information.

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    What To Do If Youre A Victim Of Credit Card Fraud

    Contact your financial institution immediately if your credit card is lost or stolen. Contact it if you find payments on your credit card statement that you didnt make or approve.

    If you think youre a victim of credit card fraud:

    • write down what happened and how you first noticed the fraud
    • contact your credit card issuer to tell them about the fraud
    • take notes of who you talked to and when you spoke to them
    • keep all documents that you think might be helpful when the police investigate the fraud
    • contact your local police service to file a complaint
    • contact other accounts that could be tampered with by the person

    My Debit Card Has Been Used Fraudulently

    If someone has used your card in a store or online, youre covered under the Payment Services Regulations.

    The regulations state you must be refunded immediately if youve had money taken from your account without your permission.

    You must report the loss of your debit card, or any unauthorised payments, as soon as possible. This is because youre liable for any losses before it has been reported, up to a maximum of £50.

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    What To Do If You Find Your Missing Credit Card

    If you find your missing credit card, you can contact the card issuer at the number on the back of the card to let them know you’ve found it. Depending on timing, they may instruct you to destroy and dispose of the card and begin using the replacement card that they’ve arranged to be sent to your address.

    Contact Your Credit Card Issuer

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    Once you suspect fraud on your credit card account, you should immediately contact your card issuer by calling the number on the back of your card. While you’re waiting to speak to a representative, check online or via your issuer’s mobile app to see if you can lock or freeze access to your card. This prevents someone from completing future transactions with your card.

    When you speak to a representative, tell them that your account was compromised and list the fraudulent transactions. The bank will cancel the card and mail you a new card with a new account number, expiration date and security code.

    The new card may take up to 10 days to arrive in the mail, though you may be able to ask for expedited delivery, which may come at a fee. While you wait to receive your new card, you won’t be able to use the old one since it was canceled.

    After canceling your card and shipping out a new one, your card issuer will begin an investigation and typically issue a provisional credit for the charges you said were fraudulent. This credit will become permanent if the investigation determines the disputed charges weren’t authorized by you.

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    Inform The Bank And Get Your Card Blocked

    Once you realise that your is stolen or misused, you must immediately call your bank and inform them about the loss of your credit card. The bank will then block your card which will prevent anyone from misusing it.

    If you dont want to go through the process of calling a customer care executive to block your credit card, you can log in to your net banking portal and use the option of getting it blocked.

    Once you have gotten your credit card blocked, you can apply for a duplicate credit card. The banks may generally take up to 7-14 days to get it delivered to you.

    What To Do With A Lost Credit Or Debit Card

    This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services.

    Have you ever wondered what you should do if you find a lost credit or debit card? We ran into this situation over the weekend, and I thought it would make for an interesting discussion topic.

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    What To Do If You Find A Lost Credit Card

    If you have a credit card, you can imagine the panicked feeling of losing your card, especially in a public location. So if you’re on the other end of the equation and you find someone’s credit card, it’s easy to be sympathetic.

    Doing the right thing in a situation where you find a lost wallet or credit card should not be a tough decision. However, you don’t want to just leave the credit card there for a thief to pick up.

    On the other hand, depending on the laws in your state, trying to be a good Samaritan can put you at risk. In some cases, you could be committing a felony by having someone else’s credit card without their permission.

    A Lost Credit Card Is Easily Resolved


    It can be a hassle to lose your credit card, but it’s not a big problem. You just need to report the loss and wait for a replacement card in the mail.

    The possibility of a lost credit card is a good reason to consider getting at least two cards instead of only one. That way, you have another card you can use while you’re waiting for the replacement to arrive.

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    Review Your Credit Report And Dispute Any Fraud On It

    After reviewing your credit card account information, you should request your credit reports from all three . The bureaus are now offering free credit reports to all Americans on a weekly basis at through April 20, 2022.

    Unnoticed fraudulent activity on your credit card account may appear on your credit report, so it’s key to check if the information listed is accurate. For instance, you may be unaware that someone racked up charges on a credit card you haven’t used in a while. If the charges pile up and remain unpaid because you’re unaware there’s a fraudulent balance, the missed payment and balance information may appear on your credit report, which may cause your credit score to decrease.

    But if you caught the unauthorized charges early and informed your card issuer, there’s no harm done to your credit score. That’s thanks to the FCBA, which states creditors can’t report unpaid fraudulent charges as delinquent.

    Understanding Your Card Terms

    Before you share your plastic with a relative, a friend, or an employee, review the cardholder agreement for your debit or credit card to determine whether sharing your card is permitted.

    Most issuers require you to make an effort to avoid unauthorized use of the card, which is the use of your debit or credit card without your permission. However, not all issuers treat the sharing of cards as unauthorized use. Some issuers outright prohibit anyone who isn’t named on the card from using it. Others note that if you give someone else permission to use your card, it does not count as unauthorized use, but you will be liable for all charges they make.

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    Phishing Emails And Calls

    Fraudsters may send fake, official-looking emails from banks or large retail stores asking you to click a link or call a phone number and give out personal information like account credentials or your Social Security number. Or you may receive a call about an emergency requiring proof of identity. These types of messages trick the unknowing into providing names, dates of birth, credit card numbers and other personal information. Never provide personal information or account credentials in response to an unsolicited phone call or email. Dont open links found in spam or other questionable emails. If youre ever suspicious of a link from your bank, opening a new browser window and going to your banks website instead of clicking on a link in an email is your safest bet.

    Report Loss Or Theft Immediately

    Do you see CCBILL.COM charges on your credit card? Find out what this transaction could mean!

    If your credit, ATM, or debit card is lost or stolen, dont wait to report it.

  • Federal law says youre not responsible to pay for charges or withdrawals made without your permission if they happen after you report the loss. Its important to act fast. If you wait until someone uses your card without permission, you may have to pay some or all of those charges. Check your statement or online account for the right number to call. Consider keeping the customer service numbers for your bank or credit union in your phones contacts, and keep them up to date.

  • Follow up immediately in writing. Send a letter to the card issuer and include your account number, the date and time when you noticed your card was missing, and when you first reported the loss. Keep a copy of your letter and your notes from calls with the bank or credit union.

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    How To Protect Your Account Information

    • Dont share your account information. Dont give your account number over the phone unless you made the call and know why you need to share it. Never leave your account information out in the open.
    • Protect your accounts by using multi-factor authentication, when available. Some accounts offer extra security by requiring two or more credentials to log into your account. This is called multi-factor authentication a security practice that makes it harder for scammers to log in to your accounts if they get your username and password. To log in to your account, youd need either:
    • Something you have like a passcode you get via text message or an authentication app.
    • Something you are like a scan of your fingerprint, your retina, or your face.
  • Keep an eye on your accounts. Regularly check your account activity, especially if you bank online.
  • Carefully check your ATM or debit card transactions because they take money from your account right away. Report any withdrawals you dont recognize to your bank or credit union immediately.
  • For your credit cards, open your monthly statements promptly. Compare the current balance and charges on your account with your receipts. Report any charges you dont recognize as soon as you discover them.
  • Keep your cards, PINs, receipts, and deposit slips safe and dispose of them carefully.
  • Call Your Credit Card Company Immediately

    First and foremost, its important to get ahead of the criminals using your card before they can inflict more damage.

    Major card networks like Visa and Mastercard have zero liability policies designed to ensure that you wont be held responsible for unauthorized charges made with your credit or debit card or account information. The same goes for credit card issuers like Citi, which promises $0 liability for unauthorized charges on all its cards, including Citibank® debit cards and popular cash back credit cards like the Citi® Double Cash Card.

    Even if your credit card info is compromised and your credit card company doesnt have a zero liability policy in place, your liability for credit card fraud is limited to $50 under the Fair Credit Billing Act.

    Still, it pays to be vigilant. As soon as you notice charges you dont recognize, call your credit card company. Theyll likely issue you a new card with a new card number and investigate the charges immediately.

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    Monitor Your Statements And Credit Reports

    After the first signs of credit card fraud, youll want to keep monitoring your credit card statements for a few months. Fraudulent charges can keep appearing on your card statements months after your card information is stolen if there was any additional information, such as login credentials, that may have been compromised.

    Credit Karma can also help when it comes to staying on top of your credit reports. You can sign up for free and get access to your credit reports from two of the major credit bureaus, TransUnion and Equifax. Your reports can be updated as often as once a week, and you can check them for free anytime. Credit Karma offers free credit monitoring in addition to free VantageScore 3.0 credit scores and reports from two of the three major credit bureaus.

    Consumers should also become much more engaged with the transactions occurring on their credit cards, says Ulzheimer. Many card issuers offer free text alerts every time your card is used.

    Using Cards In Violation Of The Agreement

    sign the back of your credit card

    Even if you get permission to transact with someone elses card , if doing so is against the rules of the cardholder’s card issuer, the cardholder would be breaking the agreement they signed with the issuer.

    Perhaps no one will notice, but if the bank or credit card company does find out that a cardholder improperly allowed someone else to use the card, it may charge the cardholder fees, reduce card limits, close the account, or even take legal action against the cardholder.

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