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By law, you have no further liability once you report the card stolen, regardless of the number or amount of unauthorized charges. Per the Fair Credit Billing Act (FCBA), your maximum liability, even before you report fraud, is $50 per card.If you think that someone might have illegally used your credit card, you must report any fraud (via an app, website, or phone call) to the credit card company or bank immediately. You may also want to follow up with a letter.
The card issuer may contact you asking for further information or to sign an affidavit under oath that you didn’t make the purchases being disputed.You may also sue the criminal who stole your identity or credit card information. Normally this is done in small claims court unless the amount exceeds your state’s small claims limit.Before suing, you should consult a lawyer to ensure you understand your rights under the law and the potential damages to which you are entitled. Most often, if the criminal is caught, he or she also faces criminal charges.
Do not confuse credit card fraud with mistaken or erroneous charges. For example, if you authorize a charge to your card, but the merchant accidentally processes the transaction twice, this would not be considered fraud. However, you would want to dispute the additional charges for items you did not receive or cases where you were double-billed. In these cases, you must dispute the charges within 60 days under the Fair Credit Billing Act. This can be done by writing a letter to the card issuer letting them know there were erroneous charges on your account.
If you want to get a 5% discount on all your purchases and access to exclusive deals, get the Torrid card. But if you usually carry a balance, the high APR on the card will outweigh the benefits. Shoppers without the card can still enjoy the perks of the Torrid Rewards Program as long as they have a free Torrid Rewards account. They can get their hands on various store deals—buy-one-get-one deals, 50% off on clearance items, 25% off on select styles and more.
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