Liability Limit
The
Truth in Lending Act limits
your liability to fraudulent
use of your card to $50 if
properly reported. However,
both VISA and MasterCard
issuers may waive this $50
deductible and cardholders are
not required to pay for any
part of fraudulent charges.
This applies to both Internet
and non-Internet transactions.
If you discover your card has
been lost or stolen, notify
the issuer immediately to get
a new account set up and new
card issued as soon as
possible. This will also
reduce the inconvenience of
identifying and removing
fraudulent items charged to
your card.
