The Truth in Lending Act limits consumer liability to $50 if a credit card is lost or stolen. And most issuers waive the $50 fee. The hardest part for a fraud victim is straightening out their credit card report after a thief piles up charges in their name. It can take months to sort out. And that’s why it’s so important to monitor credit card bills carefully and report any suspicious activity immediately.
- Look at credit card bill line by line.
- Guard your credit card number; shred old receipts and bills.
- Keep a close eye on your credit card when paying in a store, restaurant or gas station.