What Should You Do If You Find a Credit Card?
Found a credit card? Understand the correct, responsible, and safe procedures for handling it, ensuring protection for everyone involved.
Finding a lost credit card presents an immediate responsibility to act with integrity and care. While the discovery might seem minor, it involves a financial instrument that could be used for illicit purposes if it falls into the wrong hands. Understanding the appropriate steps to take ensures the cardholder’s financial security is protected and safeguards the finder from potential complications. This guide outlines how to handle such a situation responsibly, focusing on immediate actions, proper reporting, and self-protection.
Immediate Actions Upon Discovery
Upon finding a credit card, immediately secure it. Using a found card, even for a small purchase, constitutes a serious criminal offense with severe legal ramifications. Place the card in a secure location, such as your wallet or a designated safe spot, to prevent it from being lost again or accessed by others. This immediate safeguard protects the cardholder from potential fraudulent activity.
Once secured, briefly examine the card to identify key details without recording sensitive information. Note the card network (e.g., Visa, Mastercard, American Express) and the issuing bank (e.g., Chase, Bank of America, Capital One). These details are printed on the front and help determine the correct entity to contact.
These immediate actions prevent potential fraud and mitigate the risk of unauthorized transactions. By not attempting to use the card and identifying the issuing bank, you prepare for formally returning the card to its rightful owner.
Reporting and Returning the Card
Contact the issuing bank directly to report a found credit card. While a phone number is often on the back, this is typically for cardholders reporting their own lost cards. Instead, search online for the bank’s general customer service or fraud reporting number. For example, search “Bank of America customer service number” for contact information.
When speaking with a bank representative, state that you have found a lost credit card. Provide the issuing bank’s name, the card network, and the cardholder’s name if visible. Avoid volunteering the full card number or security code (CVV) unless specifically requested by the bank representative after identity verification. The bank will cancel the card and contact the cardholder to issue a replacement.
After reporting the card, follow the bank’s instructions regarding the physical card. The bank will usually advise shredding the card to prevent future misuse. This ensures the card is properly disposed of or returned securely.
Protecting Yourself
Attempting to use a found credit card carries significant legal consequences, regardless of the amount. Such actions can constitute theft, credit card fraud, or other serious criminal offenses under federal and state laws. Penalties for unauthorized use include substantial fines, potentially reaching hundreds of thousands of dollars, and imprisonment. Federal statutes, such as 15 U.S. Code 1644, address fraudulent use of credit cards.
It is also important to avoid attempting to locate the cardholder independently through personal means like social media or public records. Such actions can inadvertently infringe upon the cardholder’s privacy and may even pose unintended safety risks for both parties. The issuing bank is the appropriate and secure intermediary to facilitate the resolution of a lost card situation. They have the necessary protocols and legal authority to contact the cardholder without compromising personal information.
Following the correct procedures for reporting a found credit card protects the individual from legal liability and demonstrates responsible citizenship. Acting in good faith and entrusting the process to the financial institution ensures you avoid legal entanglements or personal risks.