Sometimes the feeling of losing your credit cards is like losing your car key or kids in a crowded place. When you lose your card or someone really stole, it can have many damages that you will not wish to handle. You are in a grave treat when you have a high limit or have to pay the bank. The last thing that you will wish to think about is your credit card is in the hand of a bad person. It is a serious thing when you lose or someone stole your credits card. Here are the things you should do if ever your credit card is lost or stolen.
- Act quickly
If you confirm that your credit card is stolen or lost, the best thing that you should do is to act accordingly to aid your problem. Do not wait for another day to go to the bank and have your credit reported. When you are sure that it is lost or stolen, call the bank or any institution that has the liability with your credit card.
- Deal fraud transaction
It’s a problem you lose or someone stole your credit card, however, you will have a bigger problem when you found out that there is a transaction after you lose or someone stole your credit card. To avoid this phenomenon, you have to make sure that the bank is protecting you from unauthorized charges. According to the law, you’re protected by unauthorized transactions upon the time that you report the incidence of lost or stolen credit cards.
- Freeze your account
It is better to act as the best move in these times. If you found out that your credit card is lost or someone stole it, go to the issuer of the credit card and inform them of your problem. Ask the credit card issuer to have your credit card account freeze, this way there will be no transaction approve for your credit card account.
- Apply for a new credit card or account
It is easier than you have your card replace than having your account replace. If you ask for a replacement for the credit card, you can change the password and you can have access to your account. You can get your new card and ask you to replace the default password for your first use.
- Learn your lesson
With the loss or someone stolen your credit card, you do not want to encounter the same situation. Do precaution and know the process that the bank or card issuer imposes when there is an incident of lost or stolen credit card. Know your right protected by the issuer of the credit card. Check at least twice or three times every day that your credit card/s is still in your possession.
It is very unfortunate to have your credit card lost or stolen. Your whole world can go trembling with the idea; however, if it happens you know what to do. The best and the right thing to do is act fast, go to the issuer of the credit card, and report the incident.