Unauthorized Charges on Credit Cards

Hi,

So I lost my card twice already in a matter of 3 months and both times someone used it. I was just wondering what is going to happen in my dad’s credit history? Will his credit history be affected by this? Rose

ANSWER:

Rose,

I am guessing that maybe your father is either a cosigner for the card or you are an authorized user. Whichever is the case, losing your credit card does not affect his credit history.

It is important when you lose your credit card that you report it as lost to the credit company as soon as possible. If any unauthorized charges are made after you report it as missing, neither you nor your dad will be responsible for the charges. If charges are made before you report the card as lost, you will most likely be responsible for the maximum amount of $50 per card that is used.

Equally important of course is keeping track of your credit card. Maybe if you seem to lose it while carrying it with you, it would be better to leave it at home unless you know you will need it. Pay close attention to your statements after you have lost your card to make sure there are no further unauthorized charges. If there are, make sure you report them to your credit card company immediately.

Hope this helps.