Lost credit card? Here are 3 tips

A lost or stolen credit card can be stressful, especially if you notice suspicious charges. Taking swift action can help minimize fraud and protect your account.

What you’ll learn:

• Acting fast to freeze or lock a lost credit card can reduce the risk of fraud and identity theft.

• Monitoring your monthly statement can help you spot charges you didn’t authorize. 

• Capital One cardholders enjoy $0 fraud liability for unauthorized charges.

• Capital One restricts the use of cards when they’re reported stolen.

A stolen or lost credit card doesn’t have to be a headache. Knowing what to do and acting fast can help you prevent fraudulent charges and reduce the risk of identity theft.

If you misplaced your card, you might be able to temporarily lock it until it turns up. But if you believe your card has been lost or stolen and you can’t find it, report it as soon as possible. 

Delays in reporting could increase your potential liability for fraudulent transactions made before the card is reported. Federal law generally limits your liability for unauthorized charges once you report the card as lost or stolen.

Check your monthly statement closely, whether you’re reviewing it online, in an app or on a paper statement. If you receive an alert or notice a purchase you—or an authorized user—don’t recognize, contact the credit card company as soon as possible.

If you’ve used the lost credit card to set up automatic or recurring payments to pay bills, make sure you give them your new card information once you receive it from the credit card company.

If you lose your Capital One credit card, the Capital One Help Center outlines steps you should take, including:

1. Lock your card: Capital One cardholders can temporarily freeze their cards to prevent unauthorized purchases. Card lock is available by signing in online or through the Capital One Mobile app.

2. Report your card: If you’re certain the card is lost, report it right away. Capital One immediately restricts the card and then issues a replacement with a new card number.

3. Wait for your replacement card: Your new Capital One credit card should arrive in about four to six business days. While you wait, you may be able to shop online with an added layer of security by using a virtual card number linked to your account. And you can continue using your virtual card to securely shop online even after your physical card arrives.

Losing your credit card can be frustrating. But for most credit card issuers, the reporting process is straightforward: Lock or freeze your card while you look for it, report it as soon as you can and monitor your statements for fraudulent activity.

Capital One cardholders are covered by $0 liability for unauthorized charges and have access to  account management features to help make misplacing a card less stressful.