Guide To Block Your Lost Credit Card Online

Guide To Block Your Lost Credit Card Online
As per reports, the credit cards in circulation in July amounted to a transaction worth Rs.24,341 crore just via POS. Similarly, Rs.202 crore was transacted through credit cards via ATMs.

While the dependence on credit cards is on the rise, users are also becoming more exposed to cybercrimes like credit card fraud, identity theft, etc.  For example, an aggregate data of over 1.3 million credit cards and debit cards were put up for sale on the dark web recently.

These figures indicate the risks card users are exposed to. Further, they highlight the need to be prompt in action when it comes to dealing with credit card loss. To elaborate, users should make it a point to block their lost credit card at the soonest to minimize the risk of fraud. Consequently, they should be familiar with the different ways in which one can block their card online.

Blocking credit card is undoubtedly one of the crucial steps to take immediately in case your credit card is lost. Regardless, it is essential to find out the best way to get it done to limit the impact of cyber-theft in general. Consequently, most users prefer the online method to block the lost credit card as it is one of the more convenient and quick ways.

The following offers a fair idea of the different ways in which individuals can block their credit card online in the event of losing it.

Through net banking

Usually, users are required to log in to their net banking account by entering their unique user ID and password. Subsequently, they have to look for the ‘Credit Card’ option and its accompanying option and find the block/unblock option. Depending on the credit card provider, users may be required to provide reasons as to why they are blocking their credit card. Regardless, cardholders can apply for a new card or request for a reissue. It must be noted that the steps involved to apply for a credit card online may slightly differ when it comes to requesting for a reissue. Hence, they should find out about it beforehand to streamline the request effectively. 

Via mobile app
Most leading financial institutions offer a mobile app to their customers. It does not just help users to track their credit card transactions but also comes in handy under unforeseen situations like loss or theft. For example,  leading NBFC Bajaj Finserv allow Bajaj Finserv RBL Bank SuperCard users to block their credit card through RBL MyCard App.

Additionally, the NBFC extends pre-approved offers and features on several financial products like credit cards, personal loans, business loans, home loans, etc. Such offers make the process of availing financial assistance quick and feasible making it easier for prospective customers. Check your pre-approved offers by offering details like name and contact information.

Nonetheless, users who are not comfortable using these online methods to block their lost credit cards do offline. Typically, offline methods comprise SMS service and customer care assistance.

Most financial institutions allow users to block their lost credit cards offline in these two ways –

Through customer care service
Most leading NBFCs have their credit card customer care to help cardholders with all their doubts and queries. Those opting for this option should put forward a request to block their card at the earliest.

Users should get in touch with an executive through the customer care number and learn about the card blocking process in details. To ensure it, they should make it a point to keep the customer executive’s number and their credit card-oriented details in handy.
Additionally, they should find out how to apply for credit card reissue and jump-start the process as soon as possible. Similarly, they should figure the different ways to check the credit card status application to track the entire process better.
Some credit card issuers also allow customers to initiate the card blocking facility via SMS. Users must know the proper format and code of the SMS to complete the process swiftly.

Other than these, users may visit their card issuer and put forward the block request for their lost credit card in person. Nonetheless, they should opt for a method that is most suitable for them and can be initiated at the earliest to minimize their loss.

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