Lost a Credit Card? Don’t stress, as you have options to ensure that your financial data is secure. Losing your credit card or having it stolen can be a stressful experience, but it is essential to act quickly. Stay calm and immediately contact your bank or card issuer to report the loss or theft.
Taking preventive measures such as resetting passwords or checking your credit report can save you from significant financial harm. Here are some tips to give you peace of mind regarding your card’s security.
Steps to Follow When Your Card is Lost or Stolen
Here’s what you need to do when you misplace the card.
Block Your Card
You need to notify your credit card company of the loss of your card. After that, the bank will block your card immediately. You can also block your card by logging into your net banking portal.
If you have any further doubt, simply call the respective credit card customer care number.
You can apply for a duplicate card once your original one has been blocked. Remember, it may take at least 7 – 14 days for the issuer to deliver a new card.
File an FIR
After blocking the card, the next step should be to report this incident to your local police. A police report or FIR can be useful for dealing with identity theft.
Always provide the right authentic information to the officials, such as the last known location of your card and other essential details related to your card.
Monitor Recent Credit Card Statement
You have to monitor your credit card statements even after reporting your credit card loss to your bank. Wondering why? The answer is simple. You can immediately file a complaint with your bank if you discover any suspicious transactions.
Contact the Credit Bureau
Contact the credit bureaus and report any suspicious activity you discover on your credit report as soon as possible. They can assist you in getting your credit back and resolving any problems.
If left unnoticed, such unauthorised transactions can affect your credit score as well. Hence, make sure that you check your credit report regularly. You can get the details from the issuer’s website.
Reset Online Banking Passwords
Change the passwords of your online banking accounts and any other financial accounts connected to the stolen credit card without delay. Ensure your passwords are strong and unique to improve security and prevent unwanted access.
Tips to Prevent the Loss of a Credit Card
While you’re familiar with the steps you need to take when your card is lost or stolen, there’s more to it. Here are some tips to follow to prevent the loss of a credit card.
Use a Digital Wallet
This creative technique lets you stop carrying credit cards around all the time. It is now more straightforward to pay with a mobile device in places that accept mobile payments by storing card information in a digital wallet. This offers a higher transaction security level than traditional card swiping.
Always Keep Your Card in a Secure Place
Keeping track of credit cards after use is easy when they are kept in one specific place, like a wallet or purse. This is especially true when credit cards are used for online purchases while at home. Arranging cards carelessly on surfaces could lead to loss and forgetfulness.
Exercise Caution When Carrying Cards
When leaving the house, carry only the necessary cards. Taking all cards with you is not required. Why? Simply because if you use fewer cards, theft or loss is less likely.
Keep Your Cards Safe When Not in Use
It is crucial to ensure credit cards are stored securely, even when using them sparingly. It’s important to keep credit cards out of the hands of strangers by keeping them secure and never leaving a purse or wallet unattended.
Save the Details Associated with Your Account
Protect your card number to avoid having your account accessed by someone else. When purchasing online, exercise extreme caution by safeguarding your passwords when saving data on web browsers and using reliable websites.
It’s essential to be prepared for the worst and take the necessary steps to protect your finances and credit card. By following these steps, you can minimise the damage and stress of a lost or stolen card and also reduce the chances of it happening in the first place.
Consider choosing the One Credit Card, which provides many security benefits. If your card is lost or stolen, you can easily monitor your account through the mobile app, so there is no need to worry about scams and fraud. Additionally, this card helps you earn rewards for dining, travelling, and shopping. Don’t wait any longer – apply now and enjoy numerous benefits.