Why the CVV code is important
admin / June 8, 2022
Theft or loss of a credit card: What to do? In fact, a good part of the frauds committed with credit card come precisely from this situation, therefore, it is necessary to take into account basic questions about what to do in case of losing our card or in case of theft of the credit card.
In the last years, and fundamentally due to the improvement in the protection systems of credit and debit cards, the frauds have diminished in a sensible way, although, it is necessary to indicate that these continue being by far one of the worst problems as far as misuse and fraud financial co-producer is concerned.
Year after year hundreds of thousands of people around the world are affected by theft or loss of their credit cards which, in the best of cases, is reduced to a period of time without being able to use the card, as well as the blocking of the same, and which in other cases leads to more or less serious fraud.
The loss or theft of a debit or credit card, mainly in the second case, is a situation against which we, as users, cannot maintain full control. There are those and some recommendations that we will see later to try to prevent these situations.
Preventing the loss or possible theft of our credit card involves things that we as users can do, some of which are very simple and which only mean incorporating a series of routines when using this financial product which, on the other hand, is so commonplace for all types of users.
In the first place, when we make payments with the cards, we must not accept at all to lose sight of its use. This is basic, giving the card to a third party to pass it through a T PV is never a good idea, but it is even less so if we also lose sight of the process.
Of course we should always keep the tickets issued for the purchases or services we pay for with the cards. This is essential in case we have to make future claims against possible frauds made with our card by third parties.
Of course, the first action we must take into account is the immediate communication with the issuing entity of our cards in case of loss or theft. In many of the cards we find the telephone number to which they called already directly printed, in any case at the end of the article we provide you with a battery of contact telephone numbers according to the different card issuers.
When we take the step to communicate a lost or stolen credit card, we contact the issuer and automatically block the use of the lost or stolen card. After the step of canceling the lost or stolen card we can request the replacement of the same, here it is rare that this happens immediately, and more common that it is done after a certain period of time.
It is very likely that we may have to make some kind of documented statement about the loss or theft, in fact, the second action to take into account is to report to the police the fact, since this report will also serve us for future complex situations in case someone uses our card fraudulently.
Nowadays there is only one reality: the inhabitants of this planet depend more and more on plastic cards for their convenience, versatility and speed. This situation is accentuated during the holiday season, when we probably only carry cards in our pockets.
But it is precisely at this time of the year when the chances of having our wallet stolen or lost increase, because no matter how careful we are, sooner or later this happens. The important thing in case of theft or loss of the card is to try to keep calm and act as soon as possible. To do this, it is essential to be clear about the steps to follow, so this guide aims to clarify certain basic aspects.
The first thing to do as soon as you realize that your cards have disappeared is to cancel them or at least report their loss. It is essential to act promptly, since the longer the cards remain activated, the greater the chances that they will be used for purchases or cash withdrawals at the ATM.
To do this, do not make the mistake of going to the commercial office of the financial institution with which we have contracted the card, which will probably be closed at the time of your visit, due to its business hours. Simply put, the vast majority of financial institutions and banks offer a 24-hour customer service, often free of charge and very fast, that will be able to assist you and guide you through the process.
In case you cannot reach a manager of your own bank, go directly to the issuing company (Visa, Mastercard, American Express). If you do not have a number handy, remember that at ATMs you can find this information on their screens without having to insert the card.
You should try to remember exactly the time and of course the date when the card was lost or stolen, in order to be able to report it properly and thus limit our liability in case the card is misused at a later date. In addition, it is necessary to take note of the time and date when the call was made to the entity to request the cancellation of a card, as well as the name and surname of the person who answered the call. This information will be very useful if we need to make a claim.
If it is a robbery, it is convenient to report it to the authorities.
Remember that in these cases the most important thing is the speed with which the report is made. Once the report has been made, the free insurance included in most of the cards will be responsible for the expenses fraudulently incurred with our money.
It is important to bear in mind that most institutions can offer, in fact they do offer, insurance when contracting credit cards. However, these insurances do not always respond to the same coverages.
Insurance for theft or loss should cover any charge made to our account up to 72 hours before the notification we make to the bank after such theft or loss, but for this we must always comply with the communication in a timely manner so that the insurance assumes any expense that has been made without our consent.
In the event of card theft, summer is one of the most likely times of the year. For this reason, there are a series of measures that you should have clear and execute them to be able to prevent this problem. Keep in mind that in the case of card theft the prevention measures are the same as for any theft or robbery, here the cards, although they are a good loot for the hulls, are only a part of that loot.
The basic questions have to do with, for example, trying not to expose the cards unnecessarily, that is to say, cutting them up only when we are really going to use them and never grouped together. If possible keep this lack of grouping constant, i.e. never carry all your cards together in the same wallet. Never lose sight of your cards, not even when you pay for a service or purchase, i.e. require that the card is always swiped at the POS in front of you…
It is a matter of common sense, a bad use of the cards does not only refer to a bad use of their conditions, in general you will have to apply to the care of these products the same precautions that you would put in practice if it was a question of cash.