Details below are subject to change anytime at the discretion of the financial institution. Please contact the bank for details.
Loss/Theft: What to do after a credit card loss/theft?
Notify the loss immediately to the issuing bank's Customer Care Centre.
Next step is to cancel/block the card with immediate effect.
Cancellation/ blocking is important so as to ensure that the card is not misused.
For Customer care centre/Bank contact details:Click here
Blocking card: What details are required by the bank for blocking a credit card?
Credit Card Number. In case you don't remember the number, bank will ask questions to verify your identity.
Name of Card Holder.
Date & Amount of Last Purchase/Payment.
Date on which Credit Card was lost.
Note: Identification process differs from bank to bank.
Response time:How long does it take to block a card?
The card is blocked immediately after the loss is reported provided that the credit card holder has the above details ready to provide to the bank for verification.
Liability: Am I liable to pay for expenses incurred after I realize that my card is lost?
Yes. Card holder is liable to pay for all expenses incurred till the time loss is reported to the bank.
Most banks offer a 24 hour customer support service. So notify the loss immediately to minimize losses.
However, in some cases when a person refuses to pay the charges, a dispute redressal system is referred to in this case by the issuing bank to resolve the payment issue.
Note: Redressal systems in such cases differ from bank to bank.
What to do if you find the credit card after reporting it as lost?
If you recover your credit card after reporting it lost, do not use it since it is blocked by the bank.
Cut it in to 4 pieces especially through the magnetic strip & return it to the issuer bank.
Can a blocked card be used again?
No, a blocked card cannot be used again.
You need to apply for a new card once your credit card is blocked.
Replacement: How to apply for a new card? Charges/Time?
It generally takes 5 to 10 working days to get the new credit card.
Ask the customer service executive to issue you a new credit card. Following details are usually asked by a bank for replacing an old credit card with a new one:
- Credit Card Number/Account Number and Name of Card Holder
- Approximate date on which card was lost
- Date and Amount of Last Purchase/Payment
Charges: Yes, you may need to pay a minimal charge to get the new credit card. Charges for issuing new credit card differ from bank to bank buy generally vary from Rs. 300 to Rs. 500. Some banks may not charge at all.
Protection: How to protect credit card against loss or theft?
Set up SMS alert notification on your card. You will receive an alert for each transaction within a couple minutes.
Make sure your card is used in your presence only.
Do not share you PIN or CVV number with anyone.
Keep track of signed charge slips and match them with your monthly statement.
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