It is common to have a credit card in today’s time. With the help of a credit card, one can spend easily even if there is no money at the time of need and can be repaid within a fixed period. This is the reason why credit cards are being used from big cities to small towns. What to do if the credit card is lost or stolen?
How to block if credit card is lost or stolen?
First of all get it blocked As soon as you come to know that your credit card has been lost or stolen, the first thing to do is to inform your bank or credit card company about it. Also block the credit card. You can do the same through net banking or mobile app
The bank/company will freeze the lost/stolen card after you inform it and prevent its misuse. If you want, you can apply for another or duplicate credit card. It may take 7-14 days for the new card to arrive.
Register an FIR for lost/stolen credit card
After informing the bank / credit card company about the loss / theft of the credit card, go to the nearest police station and also file a report. The advantage is that the cardholder will not be held responsible if the lost/stolen card is misused. Apart from this, FIR is also a legal proof that you have really lost your card. If the bank or card company asks you for a copy of the FIR, then it will be present with you.
Report Credit Check By immediately notifying the card issuer about the loss/stolen card, it will issue a fraud alert for your lost card. This step will ensure that your credit score does not suffer. Apart from this, the cardholder should also verify his credit history and if any fraudulent transaction is noticed, it should be reported to the credit rating agency.
Keep an eye on your credit card bill
Even after reporting the credit card as lost, you should keep a close eye on your credit card bill on your banking app. If you see any unusual transactions, call your bank or credit card company to file a complaint
Update Details If you have applied for another credit card or replacement credit card, update your new card details, wherever necessary. This will ensure that you do not miss a payment.