Under the Truth in Lending Act (TLA) cardholders can only be liable to a card issuer for a maximum of $50 if your card is stolen and used by someone else. Once you notify the issuer, you are no longer liable for any further transactions completed with your stolen card. The $50 charge is only incurred if the stolen card is used illegally before you notify your credit card company. The card issuer has the burden of proof of showing any purchases were authorized by you if you claim your card was stolen.
Legal Handbook
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Consumer
- Automobiles
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Credit Card Issues
- Can A Credit Card Company Discriminate Against Me Based On My Age?
- Can A Credit Card Company Discriminate Against Me Based On My Marital Status Or The Fact That I Receive Public Assistance?
- How Do I Apply For A Credit Card?
- How Do I Establish A Credit History To Show That I Am Financially Responsible?
- How Do I Explain To My Card Issuer That My Card Is Lost Or Was Stolen?
- If My Card Is Stolen Will I Have To Pay For Purchases Made By The Thief?
- What Does The Equal Credit Opportunity Act (ECOA) Require?
- What If A Credit Card Company Refuses My Application Because Of My Race Or Gender?
- What Obligations Does A Credit Card Company Have When My Credit Card Is Stolen?
- Debt Crisis
- Health
- Identity Theft
- Illegal Downloading
- Travel Fraud
- Domestic Relations
- Employment
- Landlord & Tenant
- Small Claims Court
- Student Rights
- Traffic & Misdemeanors
- Sample Documents