Lost credit card - real problem for owners

Lost credit card - real problem for owners




"I lost my credit card", has become a cliché statement over time. You can easily loose you credit card under different circumstances. The most reported cases of lost credit cards were recorded as having been stolen. With credit card fraud and theft on the rise, many people have become victims of losing credit cards and money, if responsive measures are not taken immediately. Once stolen, the fraudsters use the available high technology to either crack the authorization passwords or hack into systems and, make unauthorized payments.

What first thing you need to do loosing credit card?


Other than loosing your credit card through theft, misplacing is also common. This can be either by, dropping your wallet, accidentally leaving your wallet behind or in any other way, as long there is in no intent of fraud or theft. Especially during travel and while carrying out normal activities of the day, it is very easy to misplace your credit cards or even your whole wallet.


lost credit cards


Panic should not be among the things you do once you realize your credit cards are missing. There is normally an impulsive reaction to loss of credit cards, that your money and finances will be interfered with immediately. On acting fast though, this is never the case. Credit providers have enhanced their system security protocols making it harder for the fraudsters. However, there are two main actions to take after you notice that your credit card is missing or when you find a lost credit card for that matter.

Report to the credit issuer


how to find stolen credit card


Reporting and informing your credit card issuer is the very first thing you should do. This should be immediately you realize that your credit card is missing. Other than you, your credit card issuer is the only other authorized party able to fully control your credit card. Either online or through the phone, you can notify the credit issuer about the lost credit card. Always make sure you know your account and social security numbers to help identify your account. After the notification, you can do a well-detailed statement explaining all the events immediately before and after the loss of the credit card, giving all the necessary information. There are several companies, which offer services related to lost credit cards such as, The Sears Credit Card options.

Analyzing the charges and damage


The importance of informing your credit card issuer on loss of your credit cards immediately is that, you will not be liable to any unauthorized charges made after the notification. In addition, the federal law has it that, you will only be liable for up to $50 of the unauthorized charges made.


You will help the credit card issuer identify the authorized and unauthorized credit card charges made and the card issuer will act as required by the law. It is important to keep track of your purchases and credit card statement in general, so as to have proof of all the facts.


found lost credit card


Depending on the extent of the damage, the card issuer will decide on whether to completely cancel the lost credit card or take any other applicable action. During overseas travel, the thought of loosing your creditcard is even more terrifying. It seems not possible to find a lost credit card if it is lost abroad. On such occasions, your card issuer will most often than not cancel the lost credit card and issue you with another credit card immediately. Less damage is experienced in cases of lost credit cards overseas, as there is no intent of fraud most of the times.


Moving forward, kindly ensure that you always know where your credit cards are at all times, that your credit cards fit well in your wallet and that you have your credit card information as well as credit card issuer’s contact information backed up where you can retrieve them. These measures will make cases of lost credit easy to solve problems rather than life changing predicaments.