What to Do if Your Credit Card is Lost or Stolen

Posted on Wednesday, July 31st, 2024 | By IndusInd Bank

Losing your credit card or criminals getting hold of it can be stressful. However, it is important to take swift action to minimise any potential damage and secure your finances. Knowing the right next steps to take can save you from headaches and financial losses down the line.

Steps to Take When Your Credit Card is Lost or Stolen

Here are some immediate steps to take in case of a lost or stolen credit card:

1. Report the Lost or Stolen Credit Card

Contact your credit card issuing bank as soon as you realise your credit card is missing. Most banks have 24/7 customer service lines for reporting a lost or stolen credit card. Reaching out to your bank on time can prevent unauthorised transactions and protect your account.

To reach out to an IndusInd Bank representative, you can connect on these helpline numbers: 022 68577777 / 022 44066666 / 022 42207777 / 1860 267 7777.

2. Freeze Your Credit Card

Some banks offer the option to freeze your credit card temporarily or permanently through their mobile app or online banking platform. This feature can prevent new transactions on your missing credit card until the bank issues a replacement. 

3. Monitor Your Account

Keep monitoring your account statements and transaction history. Look for any unauthorised charges and report them to your bank at the earliest. Detecting any unfamiliar transactions can help reduce the chances of losses.

IndusInd Bank offers several ways to block your credit card in case of unauthorised transactions:

• Via IVR/ Phone Banking
• Via IndusNet 
• Using IndusMobile app
• Using SMS. 

For more details, click here. 

4. File a Police Report

In case of a stolen credit card, you need to file a police report. This can be useful for disputing fraudulent charges. Sometimes, the bank may also require a report for their investigation.

5. Request a Replacement Card

Ask your bank to issue a new credit card as a replacement for the lost credit card. Update any automatic payments or subscriptions with your new card information.

6. Check Your Credit Report

You must review your credit report regularly to ensure there are no unauthorised accounts opened in your name. You can also report the lost or missing credit card to the credit bureau to add an extra layer of security.

7. Update Your Passwords and Security Information

Change the passwords and PINs associated with your online banking and credit card accounts. This can help prevent unauthorised access to your accounts.

Also Read: Credit Card Transaction Failed – Money Debited? Here’s What to Do

IndusInd Bank Total Protect Insurance Program – Coverage for Your Credit Card

IndusInd Bank understands how important financial security is to you. That’s why the bank offers the Total Protect Insurance Program, a comprehensive protection plan for your credit card. 

• The Total Protect program provides coverage against unauthorised transactions in case of card loss or theft. This coverage also extends to add-on cards. 

• Total Protect covers you for an amount equal to your credit limit. It ensures you are not liable for fraudulent transactions made on your card as per the specified policy. 

• The program protects you against such transactions for up to 48 hours before reporting your lost credit card.

With the assurance of IndusInd Bank’s Total Protect, you can enjoy better peace of mind and financial security. 

Conclusion

Losing your credit card or having it stolen can be a daunting experience. However, one must take immediate action to mitigate risks and protect their finances. Report the loss, monitor your account, and consider opting for IndusInd Bank’s Credit Card offerings to enjoy comprehensive insurance coverage. Alongside, also enjoy high reward points, exclusive privileges, contactless features, complimentary movie tickets, airport lounge access, and more! 

Apply now for aCredit Card online with IndusInd Bank and protect your peace of mind now! 

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.