You are on a wonderful trip to Goa and your credit card made sure to make your long-awaited trip unforgettable. But wait, you have just realized that your credit card is missing. A credit card is such a thin slip of plastic that one can easily leap while stuffing it in your back pocket or while keeping it inside your wallet. A stolen credit card can be used with ease and can be misused for various purposes. With a little technical skill, the culprit could gain access to use your card by using your personal info or by changing the address of your account.

Isn’t it scary? But hold on. There are some ways you can deal with this situation and save yourself from having to pay for the unknown expenditures made after the loss. 

Here are few steps to take when your credit card goes missing:

1. Report your stolen credit card to your card issuer/
   

   Contacting your credit card issuer and reporting the stolen credit card will be the first right step before someone has a chance to use it. This is important because if any charges are made after you report the card lost or stolen, you have no liability to pay. As many people will advise you to cancel your credit card but doing so may leave you in mess, more likely with your credit score.

2. Put a Credit Freeze on Your Accounts.
   

   A stolen credit card is an important issue. A credit freeze or fraud alert can prevent and minimize the damage of identity theft and by doing so you will lock the data at the consumer report agency until you give permission for the release of the data. This will stop the thief from using your credit card and making a huge bill on behalf of your name.

3. Report the Loss or Theft to the Local Authorities.

   It is important to report your loss to the local authorities immediately so that you can keep from becoming a victim of identity theft and fraud. The police will lodge an FIR when you report the credit card loss to them. Request a copy of the report so that you can send it to the card issuer.

4. Pull your credit report.
   

   Check your free credit report online and see if the theft has affected your credit score. The thief can use your card to make huge purchases and maximize your credit limit. Maximizing your credit limit or mishandling a credit card can lead to a drop in your credit score.  Generally, it’s always a good idea to monitor your credit report. This will help you review your account and keep track of your monthly expenditures.

5. Request immediate replacement
   

   Ask your credit card issuer to send you a new account number and issue you a new credit card. However, it will take a couple of weeks to get it done. You can also do it over the phone or by going to your bank’s official website directly. Your creditor may charge you a nominal fee for your credit card replacement. The amount will get deducted directly from your credit balance.

Prevent future loss: To avoid this in future, there are few steps which you should take to protect your credit card:

• • Carry the credit cards that you’ll need and leave the others at home in a secure place.
  • Use RFID wallet, this will impede your cards’ RFID signals, making them harder to read remotely
  • Check your bank account and credit card report regularly for any strange charges.