Lost Credit Card? Here’s What to Do

Lost your credit card? It can happen to the best of us. Whether you misplaced your wallet or left your tab open at a bar out of town, as soon as you notice your card is missing, it’s time to take action. Being proactive is the best way to avoid or minimize fraudulent charges, protect your identity, and get back to normalcy as soon as possible.

Notifying your credit card issuer is a smart step to take as soon as you notice your card is missing. But depending on the circumstance, you might not want to go through the potential hassle that comes with ordering a replacement only to find it under the seat of your car a few hours later or on your desk at work the next day.

If you think your card might be secure and nearby, it might make sense to see if your card issuer allows you to temporarily disable or freeze it. Doing so can give you time to make sure the physical card is actually lost, without risking fraudulent purchases should it make its way into the wrong hands.

With a freeze, your credit card issuer will allow you to temporarily block new purchases, both in person and online, for a set amount of days or until you unfreeze them. You can usually find the feature by logging into your account, either on the card issuer’s website or mobile app. Be sure to find out whether freezing your credit card will interfere with recurring payments, such as subscriptions or monthly bills, or your ability to use your digital wallet.

If you find your card, you can unfreeze it on the website or app.

If your card issuer doesn’t allow a temporary freeze, or if you have confirmation that the card is indeed lost or stolen, it’s time to notify the issuer and order a replacement. The process can usually be done online or via phone, and card issuers tend to make it as simple and straightforward as possible.

In your online account, you can typically find an option to “report a lost or stolen card” or “request a replacement card.” Simply click the relevant option and follow the instructions from there.

On the phone, you might be asked a few personal questions to confirm your identity, such as birth date or the last four digits of your Social Security number (SSN). You can find the customer service number on your card issuer’s website, on your monthly statement, or, if you have another card from the same issuer, on the back of that card.

There are usually no fees for requesting a replacement credit card, although some credit card issuers might charge an expedited shipping fee if you need it in a hurry.

When you report your credit card lost or stolen, cancel that card, and order a replacement, the card issuer will generate a new card. The new card usually has a new number, expiration date, and card verification value (CVV). Canceling the card doesn’t mean your account is being canceled. Instead, it means that if someone tries to charge something on your now-lost credit card, the old number will no longer work, thereby protecting you from fraud.

However, this can also mean that if you've set up recurring payments or have your card info saved with certain online merchants, those payments might not go through. Check with your credit card issuer to see if it will continue to honor recurring payments after a replacement, as some say there's no need to update card information unless specifically asked to.

Similarly, if you had the old credit card in your digital wallet, some card issuers will automatically update your card information as soon as a replacement card is used. If this is the case, you can continue to make transactions with your digital wallet while you’re waiting for the replacement to be delivered.

Even after you receive your replacement card, be sure to closely examine your statement for the next billing cycle. Keep an eye out for any discrepancies or unauthorized charges.