For Many People, Bring Up The Term, Credit Card, And Theyll Roll Their Eyes. Most Of Us Understand The Powerful Pull That Pulling Out The Plastic Has On Us. Its Almost Addictive, The Ability To Pull Out Your Credit Card And Use It To Charge Anything, Anywhere, Anytime. Many Money Counselors Will Advise You To Lock Your Credit Card Up And Go On A Cash Basis If Youre Having A Hard Time With Your Debt. But What Many People Dont Realize Is That Carrying Credit Can Be A Lot Better Than Carrying Their Cash And Heres Why: The Fair Credit Billing Act (FCBA). If Youre Carrying Your Plastic And Lose Your Wallet, Youll Never Have To Pay More Than 50 Of Unauthorized Charges To Your Credit Card. Depending On How Much Cash You Carry Along In Your Wallet, This Can Save You Some Money In The Unfortunate Event That Your Wallet Or Purse Is Lost Or Stolen. According To The FCBA, If You Report That Youre Credit Card Is Lost Or Stolen Before Its Used Again, Youre Not Responsible For Any Of The Unauthorized Charges. Otherwise, The Maximum Amount That Youre Legally Responsible For Is 50. Something Else To Consider, If Only The Number Was Stolen And Not The Card, Then Youre Not Liable For Any Of The Charges That The Number Thief Puts On Your Credit Card Account. Keep A List Of Your Credit Card Numbers Along With Contact Information For The Credit Card Company Some Where Handy But Separate From Your Actual Credit Card. This Way In The Event That Your Card Is Stolen Or Lost, You Can More Easily Take Care Of Reporting Your Loss. Hurry, Those Minutes Saved Might Save You 50! For More Information On What To Do If Your Credit Card Is Lost Or Stolen, Take A Look At What The FTC Has To Say At Http:www.ftc.govbcpconlinepubscreditatmcard.htm
