What if Credit Card is Lost?

Hey Pal,

I was taking the bus to work in the month of January 2022 when I unintentionally misplaced my credit card while handing the conductor cash. When I opened my purse after getting off the bus, I realised it. I became really anxious and was unsure of what actions to do. My colleagues led the way. Your credit card may be seen as a buddy, someone who will always buy you lunch, or a large appliance. However, what if credit card is lost?

Everyone wants to keep their friends. Don't leave your credit card hanging if you misplace it. Before someone, such as a scammer, milks your plastic friend for all it's worth, it's time to take action.

First of all, stop panicking. I have provided here four steps to take if your credit card is lost or stolen.

What to do when credit card is lost?

• Contact your credit card company.

Call the company that issued your credit card right away to report the theft or loss of your missing card. Normally, you would look for the phone number to call on the back of the card. When your card has been stolen or misplaced, that is not an option.

Not to worry. The phone number of your credit card issuer can be found online or on your credit card statement. You might be able to report your loss in a bank branch or on the website of the card issuer.

• Prepare yourself with information:

Your identification will need to be confirmed by your credit card company. It's likely that you'll have to provide details like your name, address, and Social Security number. If your card was lost or stolen, your issuer might want to know when you last made a purchase. To determine whether any recent transactions seem fraudulent, they might go over them with you.

Your account will be closed and a new credit card with a new account number will be mailed to you by your issuer. If your mobile wallet also accepts the lost card as payment, be careful to update it. Your credit report or credit score shouldn't be impacted by replacing your missing card.

• Follow-up and record-keeping

Following up after reporting your loss is a good idea. Send an email or a letter to your credit card company. 

• Check the balance on your credit card

After you've reported your card missing, don't forget to carefully study your credit card statement. Call your credit card company as soon as you see any charges that seem erroneous or strange.

Hence, I believe these above-mentioned 4 points would help you with your query, what to do if credit card is lost.

Knowing the steps to follow in the event what if credit card is lost is a good idea. After all, you want to guard against credit card fraud. It's also a good idea to keep in mind to handle your card with respect and care. Friends do behave in this way.

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