Odds are if someone
steals your credit cards and goes on a buying spree it won't cost you
anything. Federal law limits your liability to fifty bucks.
Most card companies
will tell you that while it can cost you that $50, that fee is rarely
applied.
Most card companies
now offer some form of fraud protection, but be sure it is a genuine guarantee
before you accept it. There are a lot of phony companies making phony
offers of 'insurance' against someone else using your card, when in fact
you are already protected.
You are supposed to report stolen or missing cards as soon
as possible, or at least with 24 hours, for that zero liability
luxury. Once again most card companies admit that they rarely enforce
this requirement either. However it is the wisest practice to do
just that and get on the phone as soon as you see the card is gone
or the minute you see a bill with charges you never ran up.
Follow that call
with a letter confirming the facts of the loss or the phantom charges
on your statement, and also include the details of your call (who you
spoke to, when, etc). It's a simple 'better safe than sorry' policy.
Read all of the
fine print when you get your card deal, because there are always exceptions.
Card companies are more liable to ask for their money if you have done
something reckless, like not reporting the card stolen for a year or more.