How to Deal with a Stolen Credit Card

It’s true that purchasing with a credit card is lot more convenient than using check or cash. Students with a credit card can easily make online purchases or make online reservations, get the chance to earn rewards and start building an early credit history of their own.

But what about the risk of fraud and theft? If you’re a student, you should be aware of how to avoid losing your first credit card and what you can do in case of loss or theft. Consider the following pointers:

How to Avoid Losing Your First Credit Card

• Put your credit card in a safe place. If you’re staying in a boarding school, make sure that your student credit card is kept in a safe place. Never leave your wallet unattended and make sure that your locker is securely locked in place.

• If you lost your card, call your bank immediately. In case of a lost credit card, the best thing to do is alert your credit card issuer right away. Request that your account be blocked to prevent the thief from using your account.

• Choose a student credit card with liability protection. Some credit cards have a $50 liability protection which means you’ll only pay $50 for unauthorized charges regardless of the amount reflected on your bill. You can also find a student credit card that offers a no liability protection for unauthorized charges so you won’t have to pay for anything.

• Be vigilant when using your student credit card online. If you want to purchase online, make sure that you’re buying only form a legitimate and trusted merchant. Check the security of the website. Look for the locked icon on the bottom right corner of your browser and see to it that the URL of site begins with https://, indicating a secured server.

• Request for a card replacement. Immediately request student credit card replacement if it has been misplaced or stolen. Having new card protects you from the risk of fraud and ID theft.

About the Author

Samantha Wilson is a consultant for credit cards for students. For years she has written student credit cards articles that would help build student credit.
Copyright 2009
Page copy protected against web site content infringement by Copyscape

Leave a Reply

Your email address will not be published. Required fields are marked *