If a credit card is reported lost, stolen, or deactivated and thus "hot carded" and an attempt is made to use it at an ATM and the ATM seizes it, not giving it back, does that ATM operator charge the bank/credit card company for each seized card? If yes, what fee is charged to the issuer of the card?
2007-12-17 06:01:35 · 6 answers · asked by breadbox 1 in Business & Finance ➔ Credit
I already know that I WILL NOT BE CHARGED a fee. I just wondered if the ATM machine seizes my card, will that ATM owner charge the card issuer a fee since they were they one that seized it?
2007-12-17 23:20:29 · update #1
Once your card is reported, the card will no longer work.The ATM will not accept the card and will either keep the card or give it back. Usually if it comes back out and the person who has it dos not take it, the machine will seize it. But there are NO FEES for seizing the card (unless your bank has certain policies and fees, then you need to ask them). Once the ATM machine is opened, the cards are just destroyed. Your bank will not receive the card and they will not be notified. My previous employment was at a bank.
2007-12-17 06:14:41 · answer #1 · answered by Michelle 2 · 0⤊ 0⤋
You are entitled to one free credit report a year from EACH agency, so you can try getting your report from Experian, TransUnion, and Equifax. Also, You should keep your store credit card open, if there is no annual fee on it- pay it down to a zero balance and just keep it open, the history on the card will improve your score-- In a few months ask for a credit increase. Do not apply for any new credit for a while, inquiries actually hurt your score. You should see an improvement in your score in a matter of a few years-- assuming you keep up to date on all your bills and so forth-- I'm not saying don't apply for any credit again, but just hold off for a little while. I hope this helps. Good luck!
2016-05-24 09:08:46 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If you have already reported the card lost or stolen and someone attempts to use it you should not be charged any fees. If you are I would fight the charges with the banking institution that issued the card.
2007-12-17 06:10:02 · answer #3 · answered by nu_girlie 2 · 0⤊ 0⤋
There are no fees to you associated with "catching" reported hot cards.
2007-12-17 06:30:32 · answer #4 · answered by lilpuppy6 3 · 0⤊ 0⤋
there used to be a bounty paid to a retailer who collected a card that had been hot listed, I am not sure if that is paid from bank to bank.
2007-12-17 06:09:52 · answer #5 · answered by Matthew B 3 · 0⤊ 0⤋
no fees -- everyone gets a free ride!!!!
2007-12-24 06:54:02 · answer #6 · answered by Anonymous · 0⤊ 0⤋