Securing Your Credit or Debit Card from Theft This Holiday Shopping Season

Saturday, December 3rd, 2011

This holiday season it’s important to be aware of your finances, including your credit and debit card. With thieves lurking, it’s important to protect the thing most important to you — your wallet.

Ok so we all know that sometimes losing your credit card either accidentally or through theft happens but how do you avoid becoming a victim of stolen plastic cards especially during the holiday season? Studies have shown that credit and debit card theft surges by approximately 19 percent during this time of the year, which means you will have to be extra alert in order to be able to hold onto your card safely or at least suffer minimal repercussions if you actually end up becoming a victim. Firstly, it’s important to know that according to the law people who lose their credit cards get charged a liability of not more than $50, which is aimed at preventing consumers from being held liable for expenses incurred on their cards by unauthorized third parties.

However people with debit cards are relatively not very protected by the law. It’s true that they will be held liable for nothing more than $50 if they get into contact with their banks to report the stolen card within two business days but this amount surges to an unbelievable $500 when banks are not alerted within that period. Debit card holders who fail to report theft of their cards stand the risk of being held liable for the maximum amount spent on their cards by unauthorized third parties if the card loss is not reported within 60 days.

So the golden rule is to get into contact with your bank as soon as you realize that your credit or debit card has been stolen while filing a police report in addition gives credence to your case and may make investigations smoother. However don’t forget that taking this step doesn’t protect you entirely from some of the disadvantages that come with being a victim of plastic card theft. Firstly, just because you have informed the bank of your stolen card doesn’t mean it will get replaced overnight and restore your access to money. Various inquiries will be conducted into your claims and until that is concluded; you will have to live without the use of a plastic card. This means you may have problems paying your bills and other necessities in life if you don’t have enough savings until your card gets replaced and that could result in major problems with access to important elements in your life.

Another thing to keep in mind is that getting your card replaced after theft comes with charges that cost from $5-$20 depending on how quick you want access to your card.

Latest Other Card News

Monday, June 6th, 2016
If your wallet is bulging with store loyalty cards, there’s good news for you from Samsung Pay. The most widely accepted mobile digital wallet system in the United States is now ...
Tuesday, April 12th, 2016
Springtime is the season for house hunting, but many people planning to move this year say they’ll rent, not buy, their new digs.
Tuesday, January 5th, 2016
Online banking has revolutionized the way people do business with their banks, and one result is that fewer and fewer folks are actually stopping in to branches to do things like ...
Tuesday, December 8th, 2015
A new credit card from Barclaycard offers cash back rewards, as well as a redemption bonus when cardmembers redeem their rewards.
Monday, June 29th, 2015
Nordstrom agreed to sell its existing U.S. Visa and private label consumer credit card portfolio to TD Bank Group.
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 All Rights Reserved.

* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners. makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that may be compensated by the credit card issuers when the readers apply for a credit card through this site. is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.