Misplacing your credit card can lead to undue stress, especially if you don’t act swiftly. Fraudsters can exploit a lost card within minutes, making prompt action essential to safeguard your finances. Here are the crucial steps to follow:
1. Block or Freeze Your Card Immediately
Access your bank’s mobile app or online banking platform and disable your card across all channels, including ATM, POS, online, contactless, and both domestic and international transactions.
2. Report Unauthorized Transactions
If you detect any suspicious activity, report it to your bank within three working days. This can typically be done through email, the app, or written communication.
3. File a Cybercrime Complaint
In case of unauthorized debits, contact the National Cybercrime Helpline at 1930 and file a complaint on the National Cybercrime Reporting Portal (NCRP).
4. Dispute Transactions & Update Security
Provide your bank with details of disputed transactions, including screenshots and timestamps, along with your NCRP acknowledgment number. Additionally, change your net banking password, reset your card PIN, and set up alerts for all future transactions.
5. Monitor Your Credit Report
Be vigilant for small “test” charges or hidden subscription fees. Check your credit reports from all four bureaus regularly over the coming weeks to ensure no fraudulent accounts have been opened in your name.
6. Keep Records & Escalate if Necessary
Maintain copies of your hotlist request, complaint numbers, and email confirmations. If your bank does not resolve the issue, escalate it through the RBI Integrated Ombudsman Scheme.
7. Safeguard Your wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital Footprint
Only after receiving your replacement card should you update any saved card details and revoke permissions from merchants to prevent further misuse.
By following these steps, you can minimize the risks associated with a lost credit card and protect your financial information.
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