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What To Do If Your Card Is Lost or Stolen

Lost or stolen payment card is something no one wants to even think about. But it is also something everyone should know how to deal with if the worst happens because an immediate action can save you lots of money. To minimise the damage in case of a lost or stolen payment card, follow these steps:

Step #1: Don’t Wait

The very minute your card goes missing, contact your card issuer and report a missing card. The worst thing you can do is to wait for a day or two for it to show up because by waiting, you are giving the criminals time to empty your account.

Step #2: Find a Recent Statement

It contains a contact number as well as all the necessary card details you will have to report to block your card such as your account number, the date of the last purchase and some other things you may be asked about. Alternatively, access your card issuer website to find contact number or/and report a missing card.

Step #3: Keep Written Records of Your Actions and Correspondence with Your Card Issuer

You are recommended to write down to whom you have reported a missing card, when, how (via telephone, in person, etc.) and what you were told in order to have evidence of your report. Also, keep all the documents in regard to your report if you were sent any.

Step #4: Contact the Police If Your Card Was Stolen

Besides reporting a stolen card to your bank or card issuer, you should also report the theft to the police and give them as many details as possible. That way you will help the authorities find the perpetrators.

Step #5: Carefully Review Your Statements for Several Months

You probably won’t have any expenses with your card once blocked but just in case, check your bank statements every month and pay close attention to transactions. If there are any you didn’t make, contact your bank or card company immediately.


After you report your card to be lost or stolen, it will immediately be blocked which means the criminals won’t be able to buy goods and services at your expense. But you may be forced to cover some transactions that were made in the meanwhile, depending on the card and card issuer policy.

Reducing the Risk of Card Loss and Theft

A lost or stolen card can happen to anyone but you can dramatically reduce the risk by making sure that you either keep your cards at a safe place at home or carry them in the inner pockets of your bag or purse to reduce the risk of both loss and theft.