Loss or stolen credit, debit cards can be a stressful experience. It is important to take the necessary steps to protect your accounts and credit score when this occurs. As soon as you become aware that your card has been lost or stolen, contact your bank immediately to cancel the account and order a replacement.
- What to do if your credit or debit card is lost or stolen?
- Alerts—Debit card theft causes
- Credit card fraud prevention tips
What should you do if your credit, debit card is lost or stolen?
Contact your credit card issuer
Call your credit card issuer immediately to report the loss or theft of your missing card.
- You can find your credit card issuer’s phone number on your credit card statement or online.
- You may be able to report your loss on the card issuer’s website or at a bank branch.
Tip: If you report your lost or stolen card before anyone uses it, you won’t be liable for any unauthorized charges.
Change your login details
- Your card issuer must verify your identity.
- You will likely need to provide information such as your name, address, and social security number.
- Your issuer may want to know when your card was lost or stolen and when you made your last charge.
- They can review recent transactions with you to see if any appear to be fraudulent.
- Your issuer will cancel your account and send you a new card with a new account number
Monitor your credit card statement
It’s a good idea to follow up after reporting your loss. Send your card issuer a letter or email. Here’s what to close:
- Your account number.
- The date and time you noticed your card was missing.
- When and how you reported the loss to the issuer.
- Make a note of when you sent your letter.
Remember to closely review your card statement after you’ve reported your card lost.
If you see any charges that appear fraudulent or unfamiliar, call your credit card company as soon as possible.
Check your insurance coverage
Some homeowner’s and renter’s insurance policies cover your liability for credit card theft.
Alerts – Causes of stolen debit card numbers
- Hackers can steal card numbers in massive data breaches by breaking into retailers’ computer systems.
- ATM skimmers and pocket skimmers capture your card number, and hidden cameras can capture your PIN as you enter it.
- Dishonest employees can copy your card information almost anywhere.
Advice on avoiding future credit card theft and loss
|Monitor your credit card accounts||An important step in early detection of fraud is to regularly monitor your accounts online or in your bank’s mobile app. Try to monitor your accounts every day, but at least once a week is a good start.|
|Sign up for transaction alerts||Many card issuers allow you to set up alerts for transactions that exceed a certain limit, when purchases have been made abroad or funds have been transferred to your account. It’s a good idea to set this up so you can be alerted to possible scams.|
|Credit freeze||If you want to prevent scammers from opening accounts in your name, freeze your credit reports with all three credit bureaus|
|Check Your Credit||There are dozens of free credit resources from sites like Experian that you can use to track updates to your credit score. If you notice a drop in your credit score, it may be an indication of fraud.|
|Consider credit monitoring services||There are free and paid credit monitoring services, such as B. Capital One’s CreditWise® and IdentityForce® , which can give you early warning of potential fraud on your credit report. This allows you to take steps to protect your personal information. If you want to learn more about how credit monitoring works and what free and paid services are, check out Select’s list of the best credit monitoring services.|
|Secure your physical cards||If you have multiple credit cards or cards that you no longer use, make sure they are in a safe place, such as a safe. B. in a locker or safe. And the cards you are currently carrying should always stay with you.|
|Limit who you give your credit card number||You should limit the situations in which you give your credit card number to calls that you initiate. If someone calls and asks for your card number, you should be careful not to give it out.|
|Don’t write down your passwords||If you’re like most people, you have dozens of online accounts and more than one bank account. That adds up to a lot of passwords to keep track of, and your first instinct might be to write them down — but don’t. A better idea is to store them in a secure password manager like LastPass or 1Password. Both can be accessed online and with a mobile app.|
|Be wary of ads||While ads featuring limited-time offers or big discounts may be tempting, they may not always come from a reliable site. Before you click on an ad, first check the source.|
|Don’t use public WiFi||Public WiFi, while free, is tempting, but unsafe. Therefore, you should not complete any online transactions while using it. Switch to mobile data when you need to shop outside of your home and wait until you’re in a private space|
|Only pay on websites with “https”||Before making an online transaction, make sure that the URL begins with “https” and that there is a small lock icon to confirm that the website is secure.|
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