Credit Card: Nowadays most people use credit cards. This also provides us with many facilities. Credit card is easy to carry and convenient to pay. A credit card can be very useful when used wisely. However, there is a fear of card loss or theft in its use. If this ever happens to you, you should immediately take care of some special things.
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Inform the bank or institution immediately
If the credit card is lost, notify the bank first. This eliminates the possibility of credit card misuse. Prevent your credit card from being misused. The bank will immediately block your card. After that you can apply for duplicate card. If you have changed home or city, the new address needs to be updated. If the address is not updated, the credit card will be delivered to the old address only.
A card can be blocked in several ways
Apart from this, credit card can be blocked in several ways. Like calling customer care, sending SMS in a specific format and blocking the card through that bank’s internet banking facility and app. It only takes a few minutes. Blocking a credit card not only prevents fraudulent transactions but also protects the cardholder from misuse.
File an FIR
After informing the bank, file an FIR for lost credit card. If you file an FIR and your credit card is misused, you will not be held responsible. Along with this, you will have legal proof that you can use to get a duplicate credit card.
Contact your credit bureau
You can also contact your credit bureau. This will ensure that your credit score will not suffer if someone misuses the card. If you check your credit report and find any incorrect information, you should report it to the credit bureaus.
Pay close attention to your credit report
Even if you’ve reported your credit card loss to your bank, keep a close eye on your credit card statement.
Most companies offer this card for free.
Apply for a new card
Many banks or companies offer a new card at zero cost to the cardholder. Credit card transactions that occur after the card is lost or stolen are insured. You will need to submit a request to your bank or company to issue a new card. The bank or company may ask you for a copy of the FIR as proof of theft and issue a new card on payment of a nominal fee.