What to do if you lose a credit card?

Have you lost your credit card and are afraid of its abuse?

Have you lost your credit card and are afraid of its abuse?

It doesn’t just sound soothing, but this fear is in place; a potential thief may repeatedly draw your funds from your card up to 500 crowns for each transaction, and may not even know your PIN. This way you can get broke simply.

Do you know what to do and how to prevent any abuse? Read our advice on what steps to take in such a situation.

The most important thing at this point is immediate card blocking.

The most important thing at this point is immediate card blocking.

How to do it and what the blocking involves?

  • Call your bank to inform them of the loss of the card and the wish to block it. To block the card, banks have special lines, so call this number directly (you can also find it in advance and store it in your phone, so you can operate faster, for example, in theft). These lines are on standby non-stop, for free calls from the Czech Republic are free. The blockage itself is usually free.
  • A bank employee makes sure of your identity (name, surname, date of birth, etc.), identifies the card (card number, etc.) and blocks it. Card blocking refers to electronic transactions (which are therefore verified online); unfortunately, it does not apply to payments made through a mechanical reader (imprinter), so if a lost or stolen card is embossed (ie not electronic), it can be misused even after a blockage.
  • Arrange a new card release. You will receive it within a few days and will cost you several hundred crowns depending on your bank’s price list. It retains its functions and changes your PIN. Unfortunately, it will no longer be possible to reactivate an old card, its blocking is irreversible; therefore, even if you find it after some time, you can do nothing.

This step ends the quick first-time phone blocking of the card.

This step ends the quick first-time phone blocking of the card.

But next steps will need to be taken in the near future:

  • As soon as possible, come to the bank in person to confirm the loss of the card and its blocking.
  • Also, inform the police of the incident about the matter.

Did you know that…?

  • If you are abroad and lose a card or your card is stolen, you can report it to any bank that is a member of VISA or MasterCard. In addition, it is now common to block a card directly through your internet or mobile banking.
  • You can also apply for emergency cash or an emergency card abroad if you are in need without means. This service is called Emergency Card Replacement and Emergency Cash Advance. Read more about these services here: https://www.finder.com/using-visa-and-mastercard-emergency-cash-assistance
  • In the Czech Republic, you can also select a certain amount personally in the bank, in this case, however, it is common to verify your signature, respectively. signature pattern with which you have to agree.
  • Many banks offer credit card insurance to cover card loss or theft. It is not expensive insurance (a few hundred a years), so it is advantageous to decide for it.

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