Stolen Or Lost Credit Card

We all deal with stolen or lost credit card (s). It happens to all of us. So, please be patient and understanding next time, your spouse, employees, or kids tell you that they have lost the credit card(s) they were entrusted with. The question is how prepared you are for the day it happens. In my identity protection system, the KAOS system starts with the letter “K” which stands for “Knowing” your information. I suggest in this first phase of the system that identity protection starts with an in depth inventory of all identity related items we own. We need to be aware of what we own, their related information, and physical location. For example, in documenting your inventory, you hopefully listed the lost credit cards, their related information such as the issuing bank name, 800 number for quick reference, and current card location such as your wallet. How many people do you know would be aware of the contents of their wallet or purse, let alone their related information for quick action? You guessed it right, not too many people. Therefore, in case of a stolen or lost wallet or purse, you can refer back to the inventory list, identify what was in your wallet and take quick action by calling the listed banks of all credit cards using the documented information, instead of doing research in the last minute. You see, when you lose your wallet with all its contents, every minute counts to notify the banks and close your accounts before it’s too late. So, instead of doing research about what was in your wallet or who to call, you need to take quick action by calling the banks, close the old credit cards, and get new ones as soon as possible to get you back on the shopping track without the worry of lost credit card misuse and identity theft.

Keep learning about lost credit card fraud prevention.