Americans are busy people, and many of us rely on our credit cards for our day to day purchases. Too often, we reach for our favorite credit card only to find out that it is not where we expect it to be. When this occurs, it is important to take the following steps to ensure that the card is found or replaced as quickly as possible, and that the account holder is not responsible for any fraudulent charges.
The First Steps To Take When A Card Is Missing
Most cardholders will only notice that their card is missing when they need it to make a purchase. Whether or not the customer decides to make the purchase with another method of payment, his or her next step should be to determine where the card was used last. This information can be found online or by calling the bank. Next, contact the last merchant to see if the card has been recovered and is being held. It is nice if a cardholder is able to quickly recover his or her card, but they should ask the merchant to destroy it if it cannot be immediately retrieved.
Receiving A New Card
If the cardholder has requested the merchant to destroy the card, or the card has not been recovered, then the bank should then be notified. If the cardholder is not the primary user on the account, he or she will not be authorized to replace the missing card. In this circumstance, it will be up to the primary account holder to notify the bank of the lost card. Upon notification, the bank will cancel the card as well as the cards of all other authorized users on the account. In this case, it is important for the primary cardholder to notify the other authorized users that their card is no longer valid and should be destroyed. The bank will then mail a new card to each user. Most banks will send this card out using regular mail, but in most cases customers may request to have their card delivered by an overnight courier service. Finally, cardholders should pay extra attention to their next statements, scrutinizing them for any unauthorized charges. If a questionable charge is found, card members should immediately inform their credit card issuer.
Losing a credit card is a frustrating experience, but by taking all the necessary actions, customers can be assured of a timely replacement without suffering any financial losses.