If your credit card is lost or stolen, you are only responsible for up to $50 in false charges.

Question

Question 4 options:

True

False

Answer 1

True. In the United States, under the Fair Credit Billing Act, if your credit card is lost or stolen and you report it to the issuer, you are typically only responsible for up to $50 in unauthorized charges. However, many credit card issuers offer zero fraud liability, meaning you may not owe any charges if you report the loss promptly.