Let’s face it, there are bad people in the world. No, I’m not talking about the producers of the Real Housewives series, I’m talking about thieves. With the holidays rolling around, there are more opportunities to lose your wallet, or worse, have it stolen.
I had my wallet stolen 10 years ago when I stupidly left it in my car. Fortunately the thief didn’t use any of the debit cards but what would happen if he/she did? What would I be responsible to pay? All this time, I thought I wouldn’t be responsible for anything. But did you know that your responsibility changes with each passing day?
Reporting your loss before the debit/ATM* card is used is best. You are not liable for ANY charge. If reported within 2 business days after the theft and after the card has been used, you can keep your share of the loss to $50. Don’t realize it for more than 2 days? You may be having to pony up $500 big ones! Wait 60 days? You may be on the line for EVERYTHING.
Read HERE for more info.
In short, check your account balance often. It could save you $500!
*Rules for credit cards are different, but we all know you shouldn’t be carrying those anyway!!