Stolen Credit Cards - Followup (Long)

[Richard]

Because of our recent discussion of lost / stolen credit cards and wallets, I thought I would post an email I received today that provides a good summary of what to do when this happens.  This is also relevent to us in in light of many warnings about using our credit cards in Ukraine, due to possible fraud.

A corporate attorney sent this out to the employees in his company.  I am passing it along, for your information.

Place the contents of your wallet on a photocopy machine, do both sides of each license, credit card, etc., you will know what you had in your wallet and all of the account numbers and phone numbers to call and cancel.  Keep the photocopy in a safe place.

We've all heard horror stories about fraud that's committed us in your name, address, SS#, credit, etc. Unfortunately I (the author of this piece who happens to be an attorney) have firsthand knowledge, because my wallet was stolen last month and within a week the thieve(s) ordered an expensive monthly cell phone package, applied for a VISA credit card, had a credit line approved to buy a Gateway computer, received a PIN number from DMV to change my driving record information online, and more.

But here's some critical information to limit the damage in case this happens to you or someone you know. As everyone always advises, cancel your credit cards immediately, but the key is having the toll free numbers and your card numbers handy so you know whom to call. Keep those where you can find them easily.

File a police report immediately in the jurisdiction where it was stolen, this proves to credit providers you were diligent, and is a first step toward an investigation (if there ever is one).

But here's what is perhaps most important: (I never ever thought to do this) - Call the three national credit reporting organizations immediately to place a fraud alert on your name and SS#. I had never heard of doing that until advised by a bank that called to tell me an application for credit was made over the Internet in my name. The alert means any company that checks your credit knows your information was stolen and they have to contact you by phone to authorize new credit.

By the time I was advised to do this, almost 2 weeks after the theft, all the damage had been done. There are records of all the credit checks initiated by the thieves' purchases, none of which I knew about before placing the alert. Since then, no additional damage has been done, and the thieves threw my wallet away this weekend (someone turned it in). It seems to have stopped them in their tracks. The numbers are:

Equifax: 1-800-525-6285
Experian (formerly TRW): 1-888-397-3742
Trans Union: 1-800-680-7289
Social Security Administration (fraud line): 1-800-269-0271

We pass along jokes; we pass along just about everything. Do think about passing this information along. It could really help someone.

[LP]

... in response to Stolen Credit Cards - Followup (Long), posted by Richard on Jan 24, 2002

...posting about this, I'm surprised no one has mentioned that your total liability for credit card theft cannot exceed 50 bucks.

If your gonna spend so much on R/W, I'd think y'all would be aware of this stuff.

[micha1]

... in response to For all the...., posted by LP on Jan 24, 2002

You are right.
In my case,  using Amex, 90% of the time, they call and
speak to me, before giving the OK, on any purchase over
$50.  It is a deal that I have with them.
As far as Visa is concerned, did used it once for over
$400 on the NET, when the bill came, it was for over 4
grands, it was rectified.   Since then, bought some refill
for the printer, the next day had the card cancelled and
issued a new one.
Never again will I give my card number of line.
The $50 liability I can live with, but not with all the troubles that goes with it.
I rather pay everything with the client card (don't know
the english term for it) right on the spot.
In Europe with Visa and MasterCard, in restaurant and
most places, there is a PassWord to be punch in, before
they OK the transactions. In french it is call "Carte à Puces".  To have them, they have to be issued there.
As far as getting the papers and cards stolen, I do not
know,  mainly because when traveling.  I dress in clothing
made by Tilly.  And a word of advice for all the world
traveler, who don't know about Tilly, get on Google and
Copernic, you all will wonder how you could have live
without it.  
My 3 cents canadian worth, which comes to 2 cents US.

[Richard]

... in response to For all the...., posted by LP on Jan 24, 2002

We are, or at least I am, aware of this.  However, when it happens to you, you become more concerned about it.  When my wallet was stolen, someone charged up $239 at the grocery store. Because I reported it promptly, my liability was $0. By reporting it properly, my card was used improperly once, and only once.  That is the importance of reporting it promptly.

How would you like to be stuck in Eastern Europe because your travel arrangements fell thru and your card is maxed out because of fraud.  I had return flights from Europe be cancelled on me.  Luckily, I had room on my credit card to buy new tickets to get home.

[jj]

... in response to Stolen Credit Cards - Followup (Long), posted by Richard on Jan 24, 2002

Another tip is to scan these items and zip them up with password protection and email them to yourself.  This way if you have your items stolen you can always access your email and gaion access to this information.

[BarryM]

... in response to Stolen Credit Cards - Followup (Long), posted by Richard on Jan 24, 2002

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