Why You Shouldn't Panic if Someone Steals Your Credit Card
This blog article is useful when you need to know how to respond popular payment gatewaysif your credit card is stolen and what you should do in order to protect yourself.
Credit Card and Identity Theft
Are you worried someone may have stolen your credit card information? Don't panic. Here's why you shouldn't be too concerned.
According to the Credit CARD Act of 2009, a thief needs your card number, expiration date, and three-digit security code in order to use it. However, the thief doesn't always have this information. If the card was lost or stolen, the thief won't be able to use it unless they can find the cardholder's name and social security number.
If you haven't used your card recently and don't have any outstanding balances, payment gateway providersthere's a good chance your card has been lost or stolen and isn't being used by the thief. In that case, contact your credit card company immediately and cancel all pending transactions. You may also want to change your passwords for all of your accounts, especially if you frequently use the same password for different sites.
What to do after your credit card is stolen
If your credit card is stolen, the best thing to do is to call the credit card company and cancel the card. If you have a Visa or Mastercard, call 1-800- VISA or 1-800-MASTERCARD, respectively. If you have a Discover, American Express, or JCB card, call the customer service number on the back of your card. You will need to give them your name, address, and account number.
If a bill comes in the mail for your card
Don't panic! If someone has stolen your credit card, they likely won'tonline credit card payments be able to use it right away. The thief will have to go through the process of creating a new account and getting approved for a new card. This could take a few days, so be patient. In the meantime, you can call the card company and cancel the card.
It's natural to feel a bit anxious when your credit card is stolen, but there is no need to go into full-blown panic mode. In most cases, the thief won't be able to use the card immediately and will likely try to sell it on black marketplaces or online. There are some steps you can take in order to minimize the damage that might be done by this theft and keep yourself as safe as possible.
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