It happens even to the best of us: sometimes, you can lose things, including your credit card. And we’re talking about all types, like cash back credit cards, travel rewards cards and many more. However, there’s no need to panic, as this can be solved.
Below you will find a short guide, containing the first things you need to do in order to lock your stolen credit card.
Remain calm
Yes, that’s right. This is the most important step, since you won’t be able to do anything properly as long as you’re panicked.
Lock your card
A lot of issuers offer a special locking feature, allowing you to freeze your account from new purchases, as well as cash advances. This is done temporarily, but it will still allow recurring transactions to continue. However, it can prevent fraudulent purchases, at least until you figure out what’s going on.
This feature can be accessed through the issuer’s own mobile app or website, giving you the possibility to remain in control of the card. Also, more and more debit card issuers are offering it, since this type of cards is used in transactions more often, compared to regular credit cards. And it is well known that debit cards have had lesser protections.
In a nutshell, this is pretty much the best thing you can do in case of ca credit card loss. It takes just a few moments and you don’t need to go through any procedures or call your card issuer.
Freeze your credit
This is more of an extreme measure, which can be used in this situation as well, but it’s more often encountered in case of credit card fraud or identity theft.
This operation cuts off access to your credit report to new creditors, so anybody finding the card (or stealing it or information from it) will be unable to use it. However, you should know that it comes with a few pros and cons, which you can find here.
And this wraps it up! Hopefully, you will find this guide handy, in case of an unfortunate event, but we really want you to never be forced to use these instructions.
