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6 Quick Actions to Take if Your Credit Card is Lost

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Created on
January 18, 2023


What’s Inside

Losing a credit card is the stuff of nightmares for most cardholders. It usually leads to them panicking and imagining all sorts of scenarios. 

Here are 6 quick actions that you must take as soon as you come to know that the card is no longer with you. 

1. Report the loss to your credit card issuer 

As soon as you find out that your credit card is lost, the first thing that you should do is inform your credit card issuer about it. You can call the customer care helpline of your card issuer to report the on the lost credit card or giving stolen credit card details. Many issuers even have dedicated helpline numbers for lost credit cards, which speeds up the reporting process. 

If you don’t have access to the customer care helpline number, you can always retrieve it from the official website of your card issuer - and not randomly from the internet. 

Alternatively, you can also block your lost credit card yourself by logging into your card account. However, it is advisable also to call and inform your credit card issuer once you’ve blocked your card just to be on the safer side. 

Failing to report the loss of your card in a timely manner can lead to you being held legally responsible for all the unauthorised transactions that take place. However, reporting the loss will absolve you from all liabilities and responsibilities in the event of an unauthorised transaction. 

2. File a First Information Report (FIR) 

Once you’ve notified your credit card issuer about the loss of your credit card, the next quick action that you should take is to file an FIR at a police station near you. Although this can be a time-consuming process, it can come in very handy since an FIR acts as a kind of proof of the loss. 

Filing a First Information Report has two advantages. One is that it legally absolves you from the effects of fraud or misuse that may take place with your card. And the other is that it helps you make your case when disputing unauthorised transactions that take place after your credit card is lost. 

3. Change your credit card’s PIN and account password 

Seeing as you’ve already blocked your card, there won’t be any need to change the PIN of your credit card. However, if you're not comfortable with leaving your card’s PIN as it is, you can proceed to change it by logging into your credit card account. 

And while you’re at it, it might be a good idea to change the password that you use to log into your credit card account as well. This will prevent potential fraudsters from gaining access to it and other crucial information related to your card. 

4. Check if you have credit card insurance 

Most cards these days come with a card protection plan, which is essentially insurance for credit cards. They’re offered to you for free by card issuers and are designed to protect you from unauthorised transactions up to a certain limit. 

So, once you come to know that your credit card is lost, it is advisable to check if you possess an active credit card as soon as possible. You can do it by calling the customer care helpline of the issuer. 

That said, keep in mind that you can only avail the benefit of a card protection plan only if you report the loss to your insurer in a timely manner. If you fail to do it, you will not be able to claim the insurance and may even be held personally liable for the unauthorised transactions that take place on your card. 

5. Notify the credit bureaus 

Informing the credit bureaus is the next quick step that you would need to take in the case of a lost credit card. Wondering why? Here’s the reason. Credit bureaus are tasked with the responsibility of monitoring the financial transactions of individuals. They’re also responsible for recording credit histories and assigning credit scores. 

When you report the loss of your credit card to credit bureaus, a fraud alert is placed. This effectively prevents your credit score from getting impacted due to fraudulent or unauthorised transactions that take place on the lost credit card. 

Also, it is recommended that you check your credit score and generate a credit report after a certain period of time. This simple exercise can help you identify unauthorised transactions and promptly get them rectified. 

6. Keep an eye out for transaction alerts 

All the while you’re checking off each one of the actions explained above, make sure to constantly keep an eye out for transaction alerts. Usually, you receive them as an SMS on your registered mobile number and/or as an email to the registered mail address. This can help you quickly identify suspicious transactions and flag them. 

If you find it difficult to do this while carrying out the above actions, don’t hesitate to ask a friend, a family member or a co-worker to help you. Also, it is advisable to thoroughly check the credit card statement that you receive after your credit card is lost to look for traces of unauthorised transactions. 


This will help you take all the right measures to deal with the loss in an appropriate manner. 

That said, here’s something that you should know. Once you’re done with the above 6 actions, you can proceed to have your issuer send you a new credit card to replace the one you’ve lost. In many cases, credit card issuers automatically send you a new card. However, if they don’t, you can simply place a request for the same by calling the customer care helpline of the card issuer.

Frequently Asked Questions

1. What do you do if you lose your credit card?

The first and foremost thing that you would need to do when you find out that your credit card is lost is to notify your card issuer. Call your credit card issuer’s customer care helpline and report the loss of your card. Your card issuer will instantly block the card to prevent unauthorised use. Alternatively, you can also log into your credit card account and block the card yourself. 

2. How do I get back my lost credit card?

While you can file a complaint and get an FIR registered at the nearest police station, the chances of you getting back your lost credit card are very slim. The ideal course of action would be to permanently block your card and request your credit card issuer to send you a new credit card. 

3. Can credit cards be replaced if lost?

Yes, credit cards can be replaced if lost or stolen. You should contact your credit card issuer immediately if you believe your card has been lost or stolen to report the incident and request a replacement card. Most credit card issuers have a toll-free number you can call to report a lost or stolen card.

4. How much does it cost to replace a lost credit card?

The cost of replacing a lost credit card can vary depending on the credit card issuer and the type of card you have. Some issuers may charge a fee for expedited shipping or other additional services, while others may provide free replacements. It's best to check with your credit card issuer to determine any fees associated with replacing a lost or stolen card.

5. What happens if I lost my credit card and someone uses it?

If someone uses your credit card without your authorization, you should immediately report the fraud to your credit card issuer. You may be responsible for a limited amount of the fraudulent charges, typically up to $50, but most credit card issuers offer zero liability protection for unauthorized transactions.

6. Can someone use my credit card without the CVV?

The CVV (Card Verification Value) is a three or four-digit code located on the back of most credit and debit cards, and it's used to help verify that the card is in the possession of the person making a purchase. While some merchants may not require the CVV for certain types of transactions, it's generally required for most online purchases. It's always best to keep your CVV secure and not share it with anyone to prevent unauthorized transactions.

Curious? Also Read:

How to Increase Credit Card Limit - Key Tips | Fi.Money

Basic Steps on How To Get A Credit Card | Fi.Money

Loan on Credit Card - Features, Eligibility and More | Fi.Money

Credit Card Limit Meaning Explained by Experts | Fi.Money


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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