Joseph Saunders, CEO of Visa, Inc., the biggest credit card network in the world, lost his credit cards on Thursday. Maybe it was the jet lag; he was expected to make a presentation in New York after traveling cross-country from San Francisco. Upon arriving at the airport, Saunders noticed that something was missing.
“I’m supposed to start off, and say that I’m very happy to be here, and I guess I am. But it’s 4:15 in the morning as far as I’m concerned, and I lost my wallet on the way here,” Saunders said. “It’s rather embarrassing when somebody steals my credit cards.” The quip was met with laughter.
Neither Saunders nor Visa cared to provide further details. But what do we really expect them to say? After all, this could happen to anyone.
If your own credit cards turn up missing, the Federal Trade Commission advises you to report the loss as soon as possible. If you report the lost cards before someone uses them to make fraudulent purchases, you won't be held accountable for any amount. If you make the report after someone has used the card to make purchases, you could be accountable for $50 per credit card. After you've made the report, continue to check your statements carefully for unauthorized charges.
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