Losing your credit card can be an extremely stressful experience. As well as the panic and worry that sets in once you realise you cannot find it, there is admin to get through – which may be made more difficult if you have also misplaced your phone and/or keys. By following these simple steps, it is possible to get back on track.
Also, with even a modest amount of preparation, you could make life easier in the event that you misplace your credit card in the future.
Simple steps
The first thing to do when you lose your credit card is call your credit card company to cancel it. They will be able to immediately freeze your credit card so that no-one else can use it. With 5 million people in the UK being the victim of theft either through their bank account or credit card in 2017, promptly calling your bank is a key move to make.
If you have also lost your mobile phone, use a friend’s phone or a landline to call your credit card provider. Then tell your mobile phone network provider that you have misplaced your phone. They will be able to prevent it from being used without your consent.
Calling the police is a worthwhile step to take if you believe your credit card or other possessions may have been stolen. The police will issue you with a crime reference number, which will be required if you claim against your insurance for items that may have been stolen.
Your credit card issuer will refund any amounts that have been spent on the card without your consent. They will also issue you with a new card, which should arrive promptly. It is sensible to keep a close eye on your credit card statement over the few days following its loss in case there are any fraudulent transactions.
Precautions
While planning for the potential loss of your credit card may not be the most exciting of tasks, doing so could save you time and reduce stress if you do lose your card. Keeping a list of relevant numbers, such as for your credit card issuer, in a safe place could help you to cancel your card quickly. (Clearly, sensitive information such as your PIN should not be written down.)
It may also be worth keeping a small amount of cash alongside your relevant phone numbers in case you also misplace your wallet or purse. Some people may find it easier to keep track of where their credit card is if they limit the number of cards they carry around. For example, loyalty and membership cards that are rarely used may be best left at home.
Losing your credit card is an unpleasant experience. However, in a few simple steps it is possible to resolve the event with minimal stress and inconvenience.
