My Credit card was stolen, and someone ran over $1000 on it at Wal-Mart. Is there any way I can find out what was purchased, and possibly track this person if they bought electronics, like a PC? The cc company said they would investigate, but I always hear that nothing comes of taht. Please help, or am I just S.O.L.?
2007-11-05 01:09:34 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Your first concern would be to ensure that the credit card company has cancelled the card so no more charges can appear. As to your concern regarding what was purchased. The merchant has a fiduciary responsibility to turn over records from the transactions to the credit card company. Depending on the credit card company's policy, you may be able to see those are not. Under the Fair Credit Billings Act, you are not responsible for anything over $50, if you reported the loss or theft of the card within 2 business days of being made aware of its disappearance. After the 2 business days, the amount of your liability goes up to $500. You would be wise to call them back and ensure that you educate them on your knowledge of the law.. Also, check your last credit card statement...It has a copy of the fair credit billings act OR Fair and Accurate Transactions Act.
2007-11-05 02:03:32 · answer #1 · answered by MBATXguy 4 · 1⤊ 0⤋
Since you've notified the CC company you've done all that you can. They will take the charges off of your account; that is required by law. Legally you can be held responsible for no more than $50 of unauthorized use though most CC companies waive that in the interest of good will.
It probably won't be possible to track down the thief and the CC company will probably not tell you what they bought. That's the CC company's problem, not yours. In the worst case you'll be out $50, though in most cases you won't be out anything at all.
2007-11-05 01:32:10 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
credit card companies (cc co) require holders to report immediately lost cards even by phone calls followed by a written report. This action minimizes the risk of your card being used by somebody else because the cc co can stop approval of any purchases using your cc. Delayed reporting runs the risk of unauthorized purchases and the cc co can't do anything about it.
2007-11-05 01:34:50 · answer #3 · answered by gnip 2 · 0⤊ 0⤋
You may try to ask your credit company to lower your credit limit to $100 or so etc.
2007-11-05 01:20:11 · answer #4 · answered by Anonymous · 0⤊ 2⤋
call your credit card company now
2007-11-05 01:13:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
reported stolen right away.
2007-11-05 03:43:34 · answer #6 · answered by GTW 3 · 0⤊ 0⤋
They will investigate...they usually do.
Just be patient...it'll take a while.
2007-11-05 01:25:33 · answer #7 · answered by Anonymous · 0⤊ 1⤋