Lost or Stolen Credit ATM and Debit Card

If you have lost credit card or your ATM card was stolen, it is important to act quickly. You need to report the unauthorized charges or lost or stolen credit card immediately. All reputable banks and credit card companies have telephone numbers that can be accessed 24 hours a day. When you call you need to have 1) your account #, 2) the date the card went missing and 3) the amount and date of when the card was last legitimately used by an authorized user.

The Fair Credit Billing Act (FCBA) protects you when fraudulent charges are made with your lost or stolen credit card. Under federal law, if unauthorized charges are made with your credit card, the maximum amount you can be liable for is $50. If the charges are made after you report the card lost or stolen, you have no liability. However, if the charges are made before you report the loss, your creditor can ask you to pay up to $50. That’s why it’s important to report your missing credit card as soon as possible.

Ways to avoid this in the future:

Remain aware of your card’s whereabouts at all times. - Yeah, I know. This one is a no brainer.

Avoid placing credit cards in anywhere other than directly into your wallet. Put it in the same place every time.

Make sure your cards fit snugly inside the slots of your wallet. They like to slip out.

Take some time now to create a contact list including the name and number of all your card issuers. Store the list in a safe place so you can easily reach your card issuers if a credit card is lost or stolen in the future.

For more information on steps that should be taken if you find yourself in this situation is the Federal Trade Commission, specifically under the consumer information.
http://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards