What to do if your credit card is stolen or lost?

Losing your credit card or even worse being stolen is a very unpleasant situation, above all, because it can lead to significant financial problems and problems if you are not careful.

If you do not follow a series of guidelines in case your credit card is stolen or lost it is quite possible that you are a victim of fraud so do not take it lightly.

In today’s article I will explain what you should do if you lose or suffer the theft of your credit card so that you minimize the risk and avoid most problems .

Credit Card Theft

Credit Card Theft

Although in recent years the number of frauds due to credit card theft has decreased due to security improvements, they are still a big problem.

Every thousands of people in the world suffer the theft or loss of their credit card that at least forces you to lock the card and spend time without it and that can cause fraud or other problems.

But, there are ways and ways to prevent both loss and theft of a credit card . Tips that I will explain below.

How to prevent theft or loss of your credit card

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Preventing the theft or loss of your credit card is based on following a series of guidelines and tips that you can do without much difficulty.

If you follow all of them, you will minimize the risk that one of these two things will happen to you, but, be sure, it does not eliminate the risk completely .

Keep track of your credit card

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The first advice is that when you make a payment with your credit card you never lose sight of it . Do not let the person who is going to charge you take the credit card and away from your sight.

It is better to bring the POS to where you are and use the card there. If you make any strange movement or type things that are not usual, cancel the payment of what you are buying or ask for someone else to charge you.

Save the shopping tickets you make with your credit card

Save the shopping tickets you make with your credit card

Another tip, and this one is very simple to follow, is to save all the tickets and receipts of the purchases you make with your credit card.

This will be very useful if in the future you need to make any claim for fraud or improper use of your credit card .

Basic tips if your credit card is stolen or lost

Basic tips if your credit card is stolen or lost

The first step in this situation is to remain calm and act as soon as possible . Therefore, it is important that you know the first steps you should take if your credit card is stolen or lost and that I will explain below.

In case of theft or loss, the first step is to notify the issuer of your credit card

If the worst happens and your credit card is lost or stolen, the first mandatory step is to notify the entity that issued the credit card so that it can be blocked and nobody can use it.

Do not waste your time going to the commercial office of your bank with which you have hired your credit card. They may not know how to assist you, you will lose time and the process is much faster by calling the issuing entity.

They have a 24-hour customer service, free of charge and will attend you quickly in addition to providing all the information and explaining correctly the next steps you have to take and solve any doubts you have.

Locking a credit card

The moment you notify the issuing entity that your credit card has been stolen or lost, it immediately blocks it .

You can then request that they send you another credit card . Although it is not common for this to be done immediately being the most usual thing that you have to wait a few weeks until they send you your new credit card again.

This is because it is quite common that you need to make a document where you declare that you have lost or that your card has been stolen, the same complaint in case of theft would suffice, before they send you another one.

This step is essential. Since the longer your credit card is active, the more possibilities there that, in addition to the credit card, your money is stolen either by cash withdrawals at ATMs or through purchases.

If for whatever reason you cannot contact the issuing entity, call Visa, Mastercard or American Express directly, depending on your card.

To know the phone, simply approach any cashier and you can see the number on the screen.

Another important point is that you should remember the date and time , as accurately as possible, when your credit card was lost or stolen or as accurate as possible. This way you can make the report correctly and limit your liability, if the credit card is misused later.

Other information that you should collect are the date and time you called to cancel the credit card and the name and surname of the person who served you . Useful data if you later need to make a claim for a bad service.

And of course if it is a robbery you must report the fact to the authorities , once you have called to have your credit card canceled.

Once these steps have been completed, you can be calm. Now it will be the insurance that includes your credit card who is responsible for covering the possible fraudulent expenses that occur with your card.

I hope you know what steps you should take if, unfortunately, your credit card is stolen or lost. If you have any questions, you know that you can use the comments, I will respond as soon as possible.