The Fair Credit Billing Act limits your loss on a stolen or lost credit card to $50

You must report the loss IN WRITING within 2 days (here’s how).  If you wait 30 – 60 days your liability goes to $600.  After 60 days you have unlimited liability.  NEVER buy “credit card loss protection” insurance.  It is a telemarketing scam!

source: 
Federal Trade Commission
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