How to Apply for a Lost Credit/Stolen Credit Card?

15 SEPTEMBER, 2022

Credit card is another name for convenience for cashless transactions these days. They allow you to spend without worrying about bulk hard cash, change, and torn currencies. Additionally, they facilitate buy now and pay later, that too at attractive discounts and cashbacks.

Given the benefits and associated risks of using it, a lost credit card or worse, a stolen credit card is a grave matter of concern. You may not only be a victim of monetary loss but heinous frauds can also be done in your name through a stolen credit card.

You might wonder what to do if you lose your credit card. Here’s more about what precautions you should take with your credit card.

What Would Happen if You Lose Your Credit Card?

Losing credit card is just like losing the key to your house. It becomes vulnerable to both monetary and identity theft. If your lost card falls into the hands of notorious people, they can try to rob you of your hard-earned money through cashless transactions. In case of credit card stolen on purpose, there is a high chance the thief has planned and gathered your basic details too. These details can be used to purchase unauthorized instruments like illegal arms and ammunition making you prey to their malicious practices. Here’s more about what to do if credit card is stolen.

Steps to Take if Your Credit Card is Lost or Stolen

Step 1 – Report it to the Concerned Authorities

To save yourself from any legal or financial liability, report your lost or stolen credit card. You can do that by calling customer care or visiting the branch or through their mobile banking app or internet banking right away and block your credit card. Always keep the customer care number saved with you for quick access.

After blocking your lost/stolen credit card, you can reapply for a new credit card.

Step 2 – Register an FIR

Carefully trace back your steps and try searching for the lost credit card at possible places. Once you know - ‘I lost my credit card’, register an FIR at your nearest police station. An FIR saves you from the liability of any fraudulent activity being carried out in your name. It also assists in the reapplication process acting as legal evidence.

Step 3 – Check Your Statement

Once you have followed Steps 1 and 2, you may want to check your credit card statement for any fraudulent activity. If you find no suspicious transactions you can rest assured of any future liability once you have reported it timely. The statement can also assist the police in tracing the culprit in case of a stolen credit card.

Can I Apply for a New Credit Card?

I lost my credit card; can I apply for a replacement?

This is the obvious question in a customer’s mind after losing credit card. The answer is simple, yes!

Most credit card issuers will disburse a new one as soon as the old one gets blocked. A filed FIR helps expedite the process of getting a new credit card.

Also Read: Smart Ways to Choose a Credit Cards That Suits You

Steps to Get Your Credit Card Replaced

What is done cannot be reversed. But you can easily replace a lost credit card once it is deactivated and reported without affecting your credit ratings. Here's how you can apply for a replacement credit card.

First, ask yourself if you need a new card.

Losing credit card and going through the process of deactivation and FIR may allow you to introspect if you still need a credit card. If your credit card spends more time in your wallet, it is better to permanently close your credit card account. This way you can save money because there won't be any annual or reprint charges.

Apply Using Internet Banking

You can easily apply for a replacement card through internet banking using your login credentials.

Visit the card issuer’s website and log in to your account
Go to>Menu>Service Request>Reissue/Replace Card
Click "Submit"

Apply Via Customer Care

You can also call the customer care executive of your credit card issuer to apply for a new card. It may take up to 7 days to process your request and the new credit card will be mailed to your registered postal address.

Apply Using Mobile App

Another easy way to apply for a new credit card in case your previous one is stolen is through the bank’s mobile application.

Open the mobile app and log in to your account
Visit the Main Menu followed by Service Request and Reissue/Replace Card
Tap on "Submit"

How to Prevent the Loss of Your Credit Card

A lost or stolen credit card can give you unnecessary trouble. Although the process of deactivating a lost credit card and getting a new one is easier than ever, you should take care of your card to avoid any monetary loss or scams. You can follow these simple steps:

Always keep your credit card in one place for the sake of memory
Make sure your card fits your wallet pocket well
Always keep an eye on your credit card during a transaction to avoid getting it copied
Remember to collect your card back after any purchase or ATM transactions

FAQs on Lost Credit Card

Q1. How do I retrieve my lost credit card?

A. To retrieve your lost credit card, get it deactivated through the issuer. You can call customer care, visit the branch, or apply for deactivation through a mobile application or internet banking. Next, you should file an FIR. Then you can apply for a replacement card with your issuer.

Q2. How can I block my lost credit card?

A. You can block your lost credit card either online or offline. You can log in to internet banking or a mobile app to block your card under “manage card”. You can also call customer care, send an SMS or visit the branch to get your stolen credit card blocked.

Q3. Can I reactivate my lost credit card?

A. Most card issuers block a lost credit card as soon as it is reported lost or stolen. It is not possible to reactivate a permanently blocked card. However, you can easily apply for a replacement card linked to your existing account based on the FIR you filed.

Q4. Can I track my credit card if I lost it?

A. No. You cannot physically track a lost credit card as the EVM chip on the card is for payment verification and not tracking. However, you can check your credit card statement after it is lost to check for any unauthorized payment activity and report it to the authorities.

Q5. How much does it cost to replace a credit card?

A. The cost of credit card replacement varies from bank to bank. Some banks offer it free of charge while some may charge around Rs. 100 + GST to issue a replacement credit card if it is lost or stolen.