What to Do if You Lost your Credit Card

The life of modern people is dynamic. They move a lot and often lose personal things. The loss is always unpleasant but sometimes it can have really serious consequences. If a person loses his credit card, he has to take immediate action.

Very often the clients forget to report about the loss of credit plastics and get a fine. So, losing your plastics is very unfavorable. It can not only be inconvenient but also cost too much. The banks do not tolerate when their financial products get lost.

What to do if your card was liquidated by ATM

Credit plastics are easy to lose. There are several ways how the person can lose the plastic:

  • The person can leave it in ATM. The consequences of such a loss are not that bad. If you forget the plastic inside  ATM the machine will keep it.
  • It can be stolen. That is the most unfavorable way. The stealers usually start to make purchases using a stolen card.

If you forgot the plastic in the ATM you should immediately call the bank and ask if the machine keeps your plastic. It often happens the clients leave as quickly as they take the money from the ATM. The machine gives the card back to the client only some minutes after issuing cash. If the person leaves too early, his card can be taken by another person.

So, the cardholder has to call the bank and ask if the plastic was liquidated by the ATM. If it was not but was taken by third parties, the cardholder has to block the plastic. When the bank blocks the plastic, no more transactions can be made with this card. Even if a thief would like to use the plastic, it would be impossible.

How to report about the loss

Very often the plastics simply get stolen from pockets and wallets. The clients then should as well contact the bank. They will be asked:

  • General security questions about full credit cardholder name, his date of birth.
  • What the last purchase made by a plastic was.
  • When the card was last time used and when it was stolen. These questions are usually the hardest to reply. People simply forget when they lost their belongings.

It is important to block the plastic because otherwise, the client can get a fine up to 50 dollars for unauthorized credit use. Though, fine greatly depends on bank’s internal policies.

Each client has to take care of the plastics. He has to check each day where the credit card is. It is also important to put plastics in the wallets. Then the chance it can be stolen is lower.