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Credit Card Liability Limits
You are protected if your credit cards are lost
or stolen. This protection is provided by the
federal Truth in Lending Act. If someone uses
your cards without your permission you can only
be help liable for the first $50
It’s important that you keep track of
all your card accounts. A good way is to take
all your cards and photo copy them front and back
on a single piece of paper and file this with
your important papers. It’s also a good
idea to have the phone numbers (not account numbers)
of the card you do have in a safe place when traveling
in case you lose your wallet.
If your cards are lost or stolen report them
immediately. Some card companies will waive the
$50 liability if you report within 24 hours. There
will be a toll free number on your card or bill
for you to call. When you call take note of who
you spoke to and save this information for follow
up. Make sure the card company has your correct
address and make sure you receive your new card
in a timely fashion.
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