Your credit cards are a big part of your personal finances. In the process of managing credit card debt, you are likely to have the need to contact your credit card company in numerous situations. However, there are some situations that are more important than the others, where you should keep the credit card company informed.
When to Contact Your Credit Card Company
To Waive a Late Fee:
Why is this worth a call? Will the credit company be able to do it? These are some valid questions. Sometimes, even when you have a strong payment history, you can miss a payment. If you have a consistent history of making timely payments, it is always a good idea to contact your credit card company. They have the ability to waive a late fee and will happily do if this is a random miss. However, they will not waive a late fee if you have had a poor payment history and miss many on time payments.
When There is Suspicious Activity:
You should absolutely contact your credit card company if there is any suspicious activity on your credit card. All of us are working towards credit card debt relief. This process hits a wall if you become a victim of credit card fraudulent activity. Once you get in touch with your creditors, they will start an investigation. They will contact the company where the charges were made and have those charges reversed. You are not responsible for charges that are made on the card post reporting. You should also fill out an affidavit regarding the incident and file a report with the credit reporting agencies and the local police department.
There are many variables to consider. Are you traveling domestically or internationally? Either way, start with your own insurance company to get all of the details on the policy – what’s covered and what is not. Contact your credit card company and find out if they offer this as well. Notifying your creditors is especially important if you are planning to use your credit card to make foreign purchases. This way, your credit card company can flag this in their systems and not block charges.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.