Federal law limits your liability to $50 in the case of credit card theft. However, if you report the credit card theft prior to it being used by the thief, then you can’t be held liable for any unauthorized charges that occurred after you reported it. Credit card companies may provide further reimbursement as a customer benefit .
This brings a warning of a different nature. There are companies or sales people that will try to sell “loss protection” insurance for identity theft, including credit card theft. At times, these salespeople will claim that you are responsible for any charges made by the thief if you do not have loss protection insurance. This is untrue.