As we are moving towards a cashless economy, credit cards are increasingly gaining more prominence in our lives. Most of us not only use credit cards for online transactions but also carry them in our wallets as they make offline transactions a lot more convenient and hassle-free. With convenience, also comes risk- the risk of losing the credit card.
Losing your credit card can be a financial nightmare as in case your card ends up in the wrong hands, your entire credit limit is at full disposal. You might not only incur a huge debt, your credit profile will also take a toll.
The good news, however, is that almost all card issuers in India offer credit card lost liability protection to cardholders. As per the terms of this protection, the cardholder is not liable for any fraudulent transaction made with the card post reporting the loss of the card to the card issuer. It is for this reason that you must report the loss of card to your card issuer as soon as possible.
Here is a step-by-step guide to guide you through the steps to follow when you realize that your credit card is lost-
Immediately Inform the Card Issuer
The very first thing to do as soon as you realize that your credit card is stolen or misplaced is contact your card issuer and get your credit card blocked so that it can not be used for any further transaction. Most card issuers allow you to block your credit card via net-banking, SMS, or by dialing the card issuer’s customer care number. The procedure to get your credit card blocked for some of the largest card issuers in the country is as under-
You may get your HDFC Bank Credit Card blocked in the following three ways:
1.) By dialing the bank’s 24×7 toll-free customer care number- 1800 266 4332.
2.) Via HDFC Bank net banking-
- Step 1- Login to your HDFC NetBanking account with your Netbanking ID and password.
- Step 1- Click on the credit cards tab and then credit card hotlisting. You’ll see a list of all your HDFC credit card.
- Step 3- Select the credit card you lost and the reason for hotlisting.
- Step 4- Select if you want to get the card reissued.
3.) By visiting the nearest HDFC Branch to hotlist the credit card lost or stolen
SBI Card also allows you to block your credit card by just sending an SMS. You can block your SBI Credit Card in the following three ways-
1.) By sending an SMS BLOCK <last 4 digits of your card number> to 5676791.
2.) By calling the bank’s helpline number- 1860 180 1290 (24×7 available toll-free number) or 39020202 (prefix STD code).
3.) You can also get your credit card blocked offline by reporting the loss of card at your nearest SBI branch.
4.) On sbicard.com-
- Step 1- Login to your SBI Card account.
- Step 2- Go to the Services tab.
- Step 3- Click on the Report lost/stolen card option.
- Step 4- Select the card number you wish to block.
You can get your ICICI Credit Card blocked-
1.) By dialing the bank’s 24×7 customer care number- 1860 120 7777.
2.) Through ICICI Bank internet banking-
- Step 1- Login to ICICI Bank internet banking portal.
- Step 2- Go to the My Accounts section on the page that opens.
- step 3- Now click on the Credit Cards option.
- Step 4- Now select the “Block your Credit card-Instant deactivation” option.
- Step 5- Chose the card number you wish to block and click on submit
3.) Via the iMobile Pay app-
- Step 1- Login to the iMobile Pay app with the 4 digit PIN.
- Step 2- Click on the Credit Cards option from the menu.
- Step 3- Select the card you wish to block.
- Step 4- Now click on the Block Card option and submit the request.
You can report the loss of your Axis Bank Credit Card-
1.) at any of the bank’s customer care numbers- 1860 419 5555 or 1860 500 5555.
2.) Via SMS- by sending BLOCK <16 digit card number> to 5676782.
3.) Through Axis Bank internet banking –
- Step 1- Login to your Axis Bank internet banking account using your net banking user ID and password.
- Step 2- Select the Accounts option.
- Step 3- Now click on the My Cards option on the page that opens.
- Step 4- Select the card you wish to block from the list of cards that opens.
- Step 5- Enter the OTP that you received on your registered mobile number and select the Block Card option.
4.) Through Axis Bank mobile app-
- Step 1- Login to your Axis Bank mobile app.
- Step 2- Select the Services and Support option.
- Step 3- Now click on “Credit Cards: Block & Replace”and choose the card you wish to block.
- Step 4- Click on Block and Replace.
5.) Via Axis Aha Chatbot-
- Step 1- Click on the Axis Aha icon on the Axis Bank’s website and type “Block Card”.
- Step 2- Login with your internet bank credentials on MPIN.
- Step 3- Select the card to block.
- Step 4- Enter the OTP received on your registered mobile number, your card will be blocked.
6.) By visiting your nearest Axis Bank branch and submitting the application to block your credit card.
American Express allows you to block your credit card in the following two ways-
- through your American Express online account.
- by dialing American Express 24×7 toll-free customer care number- 1800 419 2122.
Kotak Mahindra Bank
You can block your Kotak Mahindra Bank credit card in the following four ways-
1.) Via Kotal Mahindra Bank net banking-
- Step 1- Login to your Kotak Mahindra net banking account.
- Step 2- Select the Credit Card option followed by Service Request.
- Step 3- Now select the “Report Lost Card” option.
2.) Via mobile banking-
- Step 1- Login to your Mobile Banking account.
- Step 2- Click on the Service Request option.
- Step 3- Now select the “Report Lost/Damaged Card” option.
3.) By sending an SMS KCCLOST <last 4 digits of your credit card number> to 5676788.
4.) By reporting the loss of credit card at the bank’s customer care number- 1860 266 2666.
Summary of Customer Care Numbers
For a quick reference, here is a summary of the customer care numbers of the major credit card issuers in the country-
Customer Care Numbers
|HDFC Bank||1800 266 4332.|
|SBI Card||1860 180 1290 (24×7 toll-free number) or 39020202 (prefix STD code)|
|ICICI Bank||1860 120 7777|
|Axis Bank||1860 419 5555 or 1860 500 5555|
|American Express||1800 419 2122|
|Kotak Mahindra Bank||1860 266 2666|
|Bank of Baroda||1800 103 1006 / 1800 225 100|
Register an FIR
Once your credit card is blocked by the card issuer, you are supposed to visit your nearest police station and register an FIR reporting the loss of the credit card. The FIR serves as a legal proof of the loss of your credit card and will help in claiming the insurance benefit in case your card is misused.
Change the Credentials
As soon as you realize that your credit card is lost, you must immediately change your credit card PIN and the login id and password of your internet banking account to prevent any fraudulent transaction on your card.
Review Your Card Statement
Once you have changed the credentials of your credit card, you must go through your credit card statement and all the unbilled transactions on your card to look for any unauthorized transactions. In case you find any unauthorized transaction on your credit card, immediately contact your card issuer to report the same.
Review your Credit Report
Apart from the card’s statement, you should also review your credit report for any fraudulent transactions. In case you find any fraudulent or unauthorized transaction on your credit report, immediately contact the credit bureau to report the same as it might have a negative impact on your future creditworthiness.
Get a Duplicate Credit Card
Once you have taken all the aforementioned steps, you can apply for a duplicate credit card from your card issuer. The duplicate card that replaces the credit card lost or stolen is usually dispatched within 5 to 10 days of application.
While there is no sure shot way to prevent unauthorized transactions once a credit card is lost, following the steps mentioned above will certainly relieve you of stress to a good extent. You must always keep your credit card in a safe place and must not share your card credentials with anyone to prevent such a situation from arising in the first place.