What to do if you lose your credit card?

So, the unfortunate has happened. Your credit card is lost and you are freaking out. What to do now? Read further.

Credit card theft is one of the most common crimes in the world. In India, it’s not that common, but with the advent of cashless economy and more and more people using credit cards, it has increased in it’s occurrence in India too. So, what to do if you lost your credit card?

Lost my credit card – What to do?

First of all, don’t freak out. Credit card companies are aware of such theft and has policies in place to deal with it. Just take the following steps one by one.

  1. Gather up all your credit card details
    (Read this article on how to use your credit card properly).
    Get everything – credit card number, photos if you have, verification number, previous statement, last few transactions that you did etc.
  2. Call up customer care and report card stolen
    Find the customer care number (usually on the backside of the card) and call them up with your details to verify. Let them know the following details.
    – Your details.
    – Your latest transactions that you’re aware of.
    – Report that your card is stolen.
    – Request to block your card ASAP, so that if anyone else gets it, they don’t use it.
  3. Visit the branch and give a written letter
    As an additional measure, visit the bank’s local branch, visit the credit card department and give a written letter stating that you lost your credit card, with the details mentioned above. Also mention that you’ve reported the card stolen already via customer care.
  4. Pay your bills
    Now, the most important part. Unless your bank tells you explicitly not to pay the bills (which is very unlikely) you should keep paying the bills. If there are transactions in your statement that you don’t recognize, report them again to the bank. Confirm with them if you should be paying them. The reason is that, banks will take their own time to verify disputed transactions, but once they do, they will return those charges if you’ve paid them.

Typically, when credit cards are lost, that’s all you’ve to do. What’s most important is to make sure that you block your card, so if someone gets it, they don’t use it. Once that is done, you can always sort it out with the bank.

Just as a precaution, I recommend you to take a picture of your card’s front and back and save it to you Google Drive or somewhere safe. Also, save your bank statements safely some place. So that, when you have to report your card, you have all the details you need.

All the best!

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About the author

Mani Karthik

As an NRI (Non-Resident Indian), I've lived in the USA, India & Middle East for over a decade, in over 6 cities like Mountain View, Dubai, San Jose, Fort Lauderdale, Kochi, and Chennai. I've worked for small and big companies and recently started my own startup. On this blog, I share everything I've learned in life, living abroad as an NRI with my roots in India. Everything from personal finance to immigration. I'm on a mission to help all NRIs return to India. WhatsApp me at +001-408-489-4785 if you have questions.

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MK Bio

Having lived in the USA, India and UAE, I share everything that I’ve learned in life. My aim is to help people by sharing whatever I know, through this blog. Come join my pursuit in becoming a smarter, richer & happier person! About Me!