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First thing to do after losing your credit card
#11
(01-09-2018, 09:14 AM)alexd Wrote: The only smart thing to do would to be to notify the bank immediately so they can block the account. In the US, for example, the law limits the liability of the card owner to 50 $ if the credit card was stolen and used for fraud, if it is reported within 60 days, which really should not be an issue.

That's a very good thing to do because it's for the credit card owner benefit to inform his bank immediately. Waiting to use the $50 liability is not a wise thing to do because one might get unlucky and over such amount would be used and he would be forced to suffer it. Although it's a good gesture by the banks in US to offer such privileges to it's customers, over here in Nigeria, such is not obtainable.
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#12
I suggest to the credit card holders, since it cannot be avoided to lose something as we are not perfect beings, the first thing that we should keep in mind is what quick action to be done first when our credit card. If ever it happens that the credit card is lost, you should immediately go to the bank and inform of it. This is in order to fix the problem directly and not to make it more complicated.
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#13
If you notice that you lose your card don't panic. First you need to stay calm and think where did you put it last time. Check it, then if still you cannot find the card I recommend to look first at you card usage history and check if there is unauthorized use of your card. Then call to your bank and tell them that you lost your card and block it. You can also go to the nearest outlet to personally block your card.
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#14
(01-11-2018, 05:37 AM)mharzenas Wrote: If you notice that you lose your card don't panic. First you need to stay calm and think where did you put it last time. Check it, then if still you cannot find the card I recommend to look first at you card usage history and check if there is unauthorized use of your card. Then call to your bank and tell them that you lost your card and block it. You can also go to the nearest outlet to personally block your card.

Panicking is really a bad way to start managing a crisis situation, the reason why I said this is as result of my experience with one of my debit cards not my credit card. I misplaced it after my last transaction with it thinking that I had lost it. I never relaxed to search for it well and concluded that I have lost the card. I had to call my account officer immediately and instructed him to cancel/deactivate the card.

After one week or so, when I had gone and applied for another card, I got home while looking for my mp3 player I saw the card where I dropped it. I really felt bad because of just not relaxing to look for it in the first place but rushing to cancel and get a new one for another cost that I would have prevented had I not panicked when I was looking for the card.
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#15
Well, I think that the first thing we should do in such issue is to report it to the bank that gave us the card, they will stop any transaction immediately, after that we should go to the police and fill the documents.
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#16
Ofcourse you should coordinate it right away with you credit card bank provider to avoid unauthorized usage of your credit card.
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#17
Just report it immediately, credit card companies do have protection for their holder for unauthorized transactions for as long as you reported it immediately you will not be charged for any transactions.
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#18
(01-09-2018, 09:14 AM)alexd Wrote: The only smart thing to do would to be to notify the bank immediately so they can block the account. In the US, for example, the law limits the liability of the card owner to 50 $ if the credit card was stolen and used for fraud, if it is reported within 60 days, which really should not be an issue.

Yes, it’s really pretty straight forward. It could get complicated, however, if you don’t use your card regularly and it’s been stolen for longer than a few weeks before you realize it. Losing your physical card is something you should notice pretty quickly; having your identity stolen, however, can go undetected much longer.
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#19
Go and report it to your bank IMMEDIATELY. Do not wait because this gives the hacker more time to take your money. Tell your bank everything that is happening and let them deactivate your cards. They will deactivate your card, and help you keep your money safe. That is my advice anyways. Hope everything goes well for you!
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#20
(01-11-2018, 04:20 PM)Heart Wrote: Just report it immediately, credit card companies do have protection for their holder for unauthorized transactions for as long as you reported it immediately you will not be charged for any transactions.


Yeah @Heart, I heard that as well. I believe it was said to be $50 liability coverage on the card for any unauthorized use of the card when it's stolen or lost. If you fail to report in order to have the card suspended, with more than $50 used on the credit card, the card owner bears the burnt alone. So therefore, it's in the best interest of the credit card owner to report as soon as possible once the credit card get lost.
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