How to Protect Yourself from Financial Fraud after Your Credit Card is Stolen

A lost wallet or stolen credit card can be a great cause of stress, but knowing what to do after credit card theft is the key to protection. In the event your wallet or purse is lost or stolen, LegalShield Identity Theft Support Team arranges for the cancellation and replacement of all credit and bank cards on file as well as other key personal identification documents, such as your driver’s license, passport and health insurance information.

  1. Report the stolen credit cards to lenders
    All stolen credit cards need to be reported to banks, credit companies and merchants immediately. Check previous credit card statements for a phone number to call. Before calling the lender’s customer care center to report credit card theft, have the following information on hand: account number, date credit card went missing and date and amount of last purchase. The LegalShield Identity Theft Support Team can assist you with reporting a lost or stolen credit card.
  2. Cancel the stolen credit card and request for a replacement
    The bank or lender should automatically cancel the missing card and begin the process for a replacement, but confirm that the process is in motion. This will decrease the risk of financial fraud and render the missing card unusable. The LegalShield Identity Theft Support Team can assist you with cancelling any lost or stolen credit cards.
  3. File a police report on the stolen credit card
    Call the police to file a criminal report. If the credit card happens to lead to financial fraud and identity theft, the police report will allow for additional legal protection. A documented police report will also be beneficial when disputing credit card charges and report information in the future. The LegalShield Identity Theft Support Team can assist you with file a police report as well as all other necessary paperwork associated with a lost or stolen credit card.
  4. Alert credit card companies about possible financial fraud
    Credit card companies can put fraud alerts on accounts that are at risk. This will make it harder for an identity thief to open other accounts or new lines of credit using stolen credit card information. Since the law requires credit reporting agencies to contact all other agencies when someone places a fraud alert, calling one company will suffice. The LegalShield Identity Theft Support Team can contact credit card companies as well as credit bureaus to help you properly report a lost or stolen credit card.
  5. Carefully check future statements
    In the months ahead, pay careful attention to credit card statements. Review statements line-by-line, keeping on the lookout not only for unrecognizable charges, but small charges as well. Identity thieves often charge a few cents to stolen credit cards to test the effectiveness of the card before selling the information. If you notice suspicious charges on your credit card or bank statements, the The LegalShield Identity Theft Support Team can assist you with any necessary actions you should take.

Sign up for LegalShield Identity Theft Premium Plan before or after a data breach to help protect yourself from financial fraud.

Published by Delroy A. Whyte-Hall

As a professional copywriter, I write for the real estate industry! Who do I serve? • realtors, agents, agencies, firms! How do I help you change? • Spread the word about their products and services using the best, simplest, and most reasonable way to do so: press releases. What brings you looking for me? • Your business has something newsworthy, so I'll help you spread the word using my affordable press release writing services. My PR will not only improve the image of your business but also the rankings on search engines.

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