How Much Am I Legally Responsible For If My Credit Card Is Stolen?

Many banks have policies that do not impose any financial responsibility on the customer when an incident of credit card theft or fraud occurs. The Fair Credit Billing Act contains a provision capping cardholder liability for credit card fraud at $50 for substantiated fraud claims. This is typically the cap of a cardholder’s responsibility when theft of a credit card or fraudulent use of a credit card occurs.