The policy of many card issuers is not to hold cardholders liable. Consult your card issuer's terms and conditions for specific details. Your card issuer's liability policy may provide for lesser liability amounts than indicated above.
In addition, if you do not notify the card issuer within 60 days after a periodic statement showing unauthorized transfers is sent to you, then you will also be liable for the amount of unauthorized transfers that occurred after the 60-day period and before notice to the card issuer, provided that the card issuer establishes that the unauthorized charges would not have occurred if you had notified the card issuer within the 60-day period. After that, your liability is up to $500.00, provided that the card issuer establishes that the unauthorized charges would not have occurred if you had notified the card issuer within the two business day period. For debit and cash machine (ATM) cards: Your liability for unauthorized use of the card is no more than $50.00 if you notify the card issuer of card loss within two business days after you learn of the card loss. IMPORTANT NOTICE: YOUR LIABILITY FOR UNAUTHORIZED USE UNDER FEDERAL LAW: For credit cards: If the card issuer has notified you of your maximum potential liability, has provided a means for you to notify the card issuer of credit card loss, and if the credit card contains a means of identifying the cardholder or authorized user, then your liability for unauthorized use of your card before the card issuer is notified is no more than $50.00 on each card. Coverage is subject to actual policy language. Availability of coverage is subject to underwriting qualifications and state laws and regulations. The summary of policy benefits, terms, conditions, exclusions, and limits of coverage set forth in the Benefit Summary are subject to the terms of the master policy. The Benefit Summary under the master policy issued by the Company with respect to such insurance will be available to you upon enrollment in PrivacyGuard. The Identity Theft Insurance is underwritten by insurance company subsidiaries or affiliates of American International Group, Inc., (collectively, the "Company") under group policy # 70777212. Upon enrollment in the PrivacyGuard service, you will automatically be admitted as a member of the Association. The Identity Theft Insurance benefits are provided to all members, along with all other benefits afforded as part of PrivacyGuard, through Alliance Marketing Association (the "Association"). If the unthinkable happens, you'll be covered for many of the eligible expenses associated with resolving identity theft and restoring your good name. As a member, you'll receive up to $1,000,000 in identity theft insurance if your identity should become compromised.
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