A report stated that between April and September 2020, India witnessed cybercriminal activities resulting in frauds of nearly Rs.100.6 crore related to net banking, debit, and credit cards. Such an increasing number of breaches raises concern among the card users as most of them to lack information on how to change credit card pin, which is one of the most advised initiatives to help card users remain protected from frauds, or how to report for a missing card immediately.
When reported, the authorities take immediate action like blocking the card or offering a suitable alternative to avoiding data breach or future financial losses. Keep your mind when you missed your card immediately contact the bank representative. Therefore, an individual mustn’t restrict his/her information to processes regarding how to get a credit card online, rather also understand the steps to deal with issues related to the card’s misplacement or loss.
Steps to take when a credit card is stolen or missing
Using a card relentlessly at unsecured portals or placing it carelessly might subject an individual to fraudulent transactions. In such cases, the risk of loss can be minimized and unnecessary hassles avoided if immediate actions are taken like reporting about the issue to the authorities.
One must thus know the steps to follow when a card is stolen or missing. You can check them out below.
- Request for blocking the credit card
An individual must keep the credit card customer care number available all the time. One can easily find the contact details of the financial institution from the official website you can call them and share your issue and some card details. For instance, one can request to block a card by calling the executive or ask them suggestions regarding any other immediate step to take.
Therefore, individuals must keep themselves updated on the ways to report for the missing card. You can proactively accumulate such details while still in the stage of querying regarding how to get a credit card online.
- Check your credit card statement immediately
To use a credit card wisely, you must check the statements from time to time, it is useful for you to take check your statements regularly. Also, in case of the card’s loss, it is wise to check the statement online immediately after such a loss or misplacement then you can register your complaint easily regarding to your losses.
It helps an individual to spot any unauthorized transaction from the cards instantly. One must check the transaction details via the dedicated app to receive a notification on an unauthorized deduction if the card is missing or stolen. If a user finds any discrepancy, it must be immediately reported to the issuer that helps you to track your card details and you can block your card immediately.
- Drop an email with necessary details
Writing an email immediately after such a loss is a suitable way to deal with the issues related to a credit card’s loss. A written report will help in processing the request better as the issuer would be informed directly. So bank representatives can help you to block your card. Further, users must be informed about how to change credit card PIN in an emergency to block further use in case the PIN is compromised too.
The details that must be incorporated in the email are –
- Account number.
- The CVV number marked at the back of the credit card.
- Exact time and date of the card’s loss or misplacement.
- The place where the card got stolen.
- Details of the suggestion or solution given by the issuer’s assistant, if any.
- Other necessary information as detailed by the credit card issuer.
- Information on liability
An individual, when looking for how to get a credit card online, must also gather information about the stipulated charges, and other details in case of card loss and unauthorized use, which can limit their liability if such a situation arises. As per the Reserve Bank of India’s guidelines, a cardholder won’t be held responsible for any illegal transactions if he/she reports about it within three days of loss.
Cards such as the Bajaj Finserv RBL Bank SuperCard come with robust security features like in-hand security to ensure increased security of the card even in the case of loss or misplacement.
The card issuer also extends pre-approved offers on financial products like business loans, personal loans, etc. to simplify the process of financing. You can check your pre-approved offer by entering a name and mobile number.
One must use the payment responsibly to avoid issues regarding theft or loss. If the card gets stolen or is misplaced, they must take immediate measures to limit any contingencies and avoid upcoming hassles. Staying updated on how to get a credit card online and the ways to deal with transaction issues will further help the cardholder ensure hassle-free use of the card.