Has your credit card been lost, stolen or fraudulently used? Notify the card issuer without delay. As of that moment, you cannot be held responsible for any new transactions made by another person with your card.

If you fail to notify the issuer that the card was used without your authorization, your liability is limited to the first $50.

Beware of fraudsters

An individual pretending to be representing a merchant with whom you have already done business contacts you to update your file. This person asks you for your credit card number. Be careful if you did not request this call. This person could be a fraudster who is impersonating a merchant to obtain your personal information.

Also beware of any emails that supposedly come from your financial institution. These institutions should not be sending you a message in which they ask you for personal or banking information.

Protecting your personal identification number (PIN)

Be especially careful with your credit card's personal identification number (PIN). If the credit card issuer can prove that you were careless, reckless or grossly negligent in protecting your PIN number, you could be required to reimburse any losses the issuer may have sustained.