While it has always been important that we look to protect our credit card information, with the rising threat of identity theft and stolen credit card numbers it is even more important that we watch for any and all warning signs coming from our credit card statements. That’s why it is so vitally important that you check your entire statement when it comes in the mail, and why it is a good idea to register online with your credit card company so that you can check in about once per week with your card to see what’s going on. But what if you feel that unauthorized charges have shown up on your bill? Here is a step by step walk through of what you should do and when you should do it.
First off, don’t panic. Finding out that your credit card numbers have been stolen is almost the same as coming home after work and finding that your home has been robbed. You will feel violated, angry and confused. But it is important to get your emotions under control as soon as you can because you now have some work to do. If you see what you believe to be unauthorized charges on your credit card statement, the first thing you need to do is to think long and hard about that transaction and what it could be. Does anyone else use your credit card, like a spouse or a teenage child? Could the charge be something you actually charged but under a different name? Remember, many times, companies will have one name on the outside of their storefront and another on your credit card bill. Check through your wallet or purse to find recent credit card receipts to ensure that it wasn’t a charge you forgot about. In today’s hectic world, it is quite common for folks to make a debit or credit charge and then completely forget about it five minutes later. Once you have exhausted all of these options, it is time to pick up the phone.
The moment that you have verified that a charge was not yours; you need to call your credit card company. Most credit card companies these days have safeguards in place that protect consumers from identity theft and stolen credit cards, but you must report any suspicious activity IMMEDIATELY or you are likely to lose whatever protection your card company offers. If you wait, even a few days, and additional charges are made to your card, you will most likely be responsible for them.
Remember to stay calm on the phone and describe what happened to the card company. If this stolen number is the result of a lost or stolen wallet, the card company will likely advise you to contact your local police, especially if they believe that an outright identity theft has taken place.
Having your credit card number stolen isn’t a fun experience, but if you stay calm and act right away, the long term impact can be minimized.
