Under the Fair Credit Billing Act, if consumers notify the card company immediately of a stolen or lost credit card, their liability for unauthorized losses is $500.

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Under the Fair Credit Billing Act, if consumers notify the card company before any unauthorized charges are made, they have zero liability for unauthorized losses. If they notify the card company after unauthorized charges have been made, their liability is limited to $50.

Under the Fair Credit Billing Act, If Consumers Notify the Card