You should contact your credit card company immediately if your card is lost or stolen. After that, your card will be disabled and a new one will be requested.
If you have merely misplaced your card, you may be able to “freeze” it with some card issuers in an online account. When you find it, you can thaw (or “unfreeze”) it. If not, you’ll need to cancel and reschedule.
All too often, people have to deal with the hassle of replacing a lost credit card. The first sign is usually when you realize your credit card isn’t where you last used it. That causes one to wonder where the money went and if someone is utilizing it now to go on a shopping spree.
Keep calm if you can’t find your credit card. Any illegal charges will be covered at no cost to you. To protect issuers, federal law limits a cardholder’s credit for fraudulent charges made with their card to $50. However, almost all credit cards now offer 0% liability protection in the event of fraudulent use. If your credit card is lost or stolen, you will not be held accountable for any purchases made with the card. Also, unlike with a stolen debit card, you won’t have to worry about having your bank account funds stolen along with the card.
1. Send a message to the card issuer.
If you have any problems with your credit card or debit card, you should probably contact the bank or financial organization that issued the card first. Make a note of when you realized the card was missing and what time it was.
You can find up the company’s contact statement on your bill or on the web if you have misplaced their number.
2. If your credit card has been lost or stolen, you should immediately lock it or disable it temporarily.
Locking capabilities for consumers’ credit cards are being introduced by a rising number of credit and debit card issuers. If you’re not sure if youkeep lost your credit card or if it’s just been misplaced, this will give you some time to investigate further. The best way to find out how to freeze or lock a credit card is to call your bank or financial institution.
If you lose your card and can’t locate it, or if you can’t find a way to disable it temporarily, contact the card issuer immediately so a new card may be issued in its place. Your new card will be mailed to you and may arrive any day now. Some businesses may offer faster shipping options if that’s what you require. If your bank has branches, you may be able to receive a new card or a temporary one immediately soon. Talk to a customer care staff about reviewing your recent credit card activity.
3. Consider regular purchases.
Make sure to contact any businesses with whom you routinely do card if you have recently changed credit or debit payments. It’s usually a sure idea to double verify with your bank or financial institution, but in some cases, recurring payments may make to be processed on the lost credit card even after it’s been replaced.
4. Do a thorough check of your credit history and upcoming bills.
Review your monthly statements thoroughly for the following few months to look for any suspicious charges. Report a message to the card issuer if you find any suspicious charges.
You should also review your credit reports for any suspicious activity, such as the addition of new accounts that you didn’t open. Contact the lender or creditor to contact the issue, or the two nationwide credit bureaus to dispute the inaccurate information. To file a dispute with Equifax, please use our online dispute form.
At last, it’s crucial to understand that you’re entitled to certain protections. When your credit card is lost or stolen and used fraudulently in Canada, you are only legally responsible for up to $50 in damages.
Limits on the amount you can withdraw from your bank account or the amount of your debit card’s spending limit apply as upper bounds on your obligation while using a debit card. If your bank account has a line of credit, overdraft protection, or is linked to another account, you could be held responsible for more than the available account in the amount of an overdraft. If you have questions about your debit card, you can ask the company that issued it.