Perhaps you got pick-pocketed, or someone accessed your credit card information online, it can be appalling to learn that someone has been using your credit card to make payments without your consent. Once you notice this fraudulent activity, notify your credit card provider right away.
Here are the measures to take once you discover your credit card has been stolen.
Report the Loss of Your Credit Card
Whenever you notice that your credit card is missing, the first thing that you should do is notify your credit card company. By doing so, you’ll prevent your credit card from being used to make fraudulent payments. Failure to contact your credit card provider on time will give room for fraudsters to make illegal charges using your credit card.
Based on the policies of your credit card provider, it is possible to deactivate or replace the current card with a new one. If by the time you realize your credit card was stolen, the fraudsters have already used your card to make payments, don’t hesitate to contact your provider and explain what transpired.
Keep Your Credit Card Statements in Check
Even after reporting the matter, keep an eye on your new credit card statement. Ensure all the unlawful charges have been noted for probe, and there are no further charges taking place after notifying the provider. Frequent checking of your credit card statements will help you to detect immediately when unexpected expenses are initiated.
You can liaise with your credit card provider to receive alerts in the form of text or email whenever a transaction is made via your credit card. This can save you in the event someone steals your card and goes ahead to make a substantial spending spree.
The dismay caused by theft of your card will not last long, but this will help you to stay vigilant and monitor your credit card often. Once the matter has been settled, keep an eye on your credit card statements often and scrutinize your credit reports annually. Perhaps you can adopt fraud protection devices to combat the risk of this process happening over and over again.
Above are a few tips on how to deal with stolen credit card.