What should you do if you lost your Credit Card?

• By admin
• 25/05/2016
• 0

Now a days it is very much safer to use Credit Cards instead of Cash. People feel comfortable with carrying Credit Card than Cash. And Payment against purchase using a credit card is typically safe. But the most conscientious cardholders can be at high risk of credit card theft. If your credit card is lost or stolen, following steps at once -

• Report stolen credit cards to your bank:

Whhen you become informed about your stolen Credit Cards or debit Cards, you must report to your bank at once to reduce financial damage. The bank will Block your Card so that no transaction can take place. It’s important to note that if you’re a victim of fraud, you may not be held liable for any of the associated losses. Review your Cardholder Agreement for additional details.

• File a police report

Not only should you call your bank in the event of credit card theft, but you should also file a report with the police. Documenting the incident with authorities may aid in finding the perpetrator and holding them accountable.

• Keep written records

Regarding a stolen card, all communications and actions taken throughout the process of speaking with your bank, the police and credit bureaus, should be written down in detail. Document who you spoke with, the date and time you spoke, the context of the conversation, and any follow-up items. And this will safeguard your future interest.