If you find a lost credit card and do not want to leave it for a thief to pick it up or depending on the laws governing your state you do not want to commit felony by having someone else’s credit card without their permission here’s what to do if you find a lost credit card.
The Following Can Happen When You Lose Your Credit Card
You may be responsible for up to $50 of purchases made on your lost credit card depending on how long it takes you to report the missing credit card.
Also if you lose your debit card, which is connected to your checking account, you’d lose all the money taken from your account. This could happen, if it takes awhile for you to notice that your card is missing and report to the bank.
Search for the Lost Credit Card Owner
You can use the social media like Facebook or Goggle search to find the credit card owner, but be sure you do not give the card to the wrong person. Since credit cards only carries a name of the cardholder note, it may be difficult tracking the card owner as there may be others with the same name except the name is a rare one. To ensure you give the card to rightful owner;
Turn the Credit Card in at the Location Where You Found the Card
Most times when we lose a thing, we try to replay where-and-where we’ve been and try to go back to those places to search for what we lost. Thus there’s a chance the person who lost the card will try to retrace their steps to figure out where they lost their card. If the card was found at a reputable location you can turn the card to the manager or to the customer service desk. If you feel this is not safe enough and the card can be fraudulently used or the card’s information may be sold on the internet, you may consider the following options;
Take it to a Bank Branch
If the bank that issued the card, has a local branch close to you, you should visit the branch. The bank branch will be able to get in touch with the card holder using the account information and contact them to intimate them that their card was found.
Call the Credit Card Issuer
If a major credit card issuer issued the card or it was issued by a bank that has no branches in your area, you can use the number on the back of the credit card to contact the card’s customer service. Follow the prompts to speak directly to a customer service representative. Note, don’t try accessing the account by entering the credit card details.
Immediately you speak with a customer service representative, intimate them on the card you’ve found to have the representative do the following;
- Give you specific instructions on what to do with the card.
- Shred the credit card and discard the pieces.
The credit card issuer will alert the cardholder and close the credit card account to prevent any unauthorized purchases from being made on the account.
Try to report as soon as you find anyone’s lost credit card, because you could face a jail term and have to pay a fine and also be required to repay the purchases you made, if you hold on to the card.