There are steps to take if your credit card is lost or stolen. These steps are very vital when you lose your credit card. When you lose your credit card this may cause plenty of damage, especially one with a high credit limit or one that has a lot of credit still available. Acting fast is the quickest solution. Below are the actions to take when you lose or your credit card is stolen. below are the recommended steps to take if your credit card is lost or stolen.
Step 1: Contact Your Credit Card Company
However, the first thing to do is to contact your credit card issuers, report your missing credit card. You can always get their contact number at the back of your card. Search for the number on the copy of your credit card statement. Report on their website or at any of their branch closets to you.
Also, you have to act fast, lodge in a report fast before any fraudulent or authorized transaction on your credit card. A token of $50 is the most you may pay.
Step 2: Get Your Information Ready
When you make your report to your card issuer, your identity would be verified. You’re being asked for your name, address, and social security number. The date of the credit card lost, your last charge, and recent transactions may be reviewed to be sure they are dealing with the right person. Your account would be cancel and a new credit card mail to you with a new account number. Ensure that you update your mobile wallet if it includes the lost card as the mode of payment. However, replacing your card does not affect your credit score or report.
Step 3: If your credit card is lost or stolen, Always Follow Up Records
It is mandatory to follow up on the card issuers company after you might have reported on your list or Stolen credit card. Send a letter or an email including your account number, the date and time you notice your card was missing, time and mode of reports of loss to your card issuer. Let all means of reports be in safe custody.
Step 4: Keep Checking Your Credit Card Statement
After reporting to your credit card issuers, keep monitoring your credit card statement. If you find any charges that look fraudulent, put a call through to your card issuers immediately.
Step 5: Check Your Insurance Coverage if your credit card is lost or stolen
A lot of insurance policies cover for Credit card theft such as homeowners and renters. In case of lost or stolen credit card, check your insurance policy to see the amount covers. It is important to note that, some credit card issuers offer zero liability as card features.
How To prevent future lost or stolen credit cards
It is a necessary to guard your credit card and keep it safe at all times. Few steps to ensure against credit card future lost
- Always go out with credit card that you need at present
- Ensure that you placed your card safely in your purse or wallet
- Cut through the account number when disposing of an old credit cards
- Keep all your credit card information safe including account number, expiration dates, customers Care center telephone numbers for each issue.
- Always check on your credit card statements on arrival, check for unauthorized charges
- Guard your account number. Write it down and store in a safe place or location
- Don’t give out your credit card number on phone. Ensure that you are the one calling and no one is eavesdropping.