When to Block the Credit Card

When to Block the Credit Card

It may be necessary to block a credit card immediately in several cases. For example, if you lost it. Even the bank advises in such cases to block it as soon as you can, in order to avoid the actions of scammers. If it was stolen, the situation is similar – the cardholder should make everything possible to block the plastic in the nearest time. It is also important to remember that any plastic could be unblocked at any convenient moment simply by applying to the bank.

For example, if you lost your credit card and your mobile phone receives notifications or calls for any operations on it, it is extremely important to not confirm them at all and immediately block the plastic. In any case, do not forget that blocking is the first recommendation in case you have lost your plastic for various reasons. Moreover, it should be quickly blocked if you have identified any signs of fraud.

The Most Common Reasons

The most common reasons for blocking a credit card are the situations in which it was either lost or stolen. These situations constitute an increased danger of the abduction of funds on the plastic so you must immediately block it in case of loss. If you hesitated and lost some time and did not block the plastic immediately on the day of the loss, money from your account can be stolen by scammers regardless of whether they know the PIN code of your plastic or not.

As soon as you find out that the card is lost or stolen, immediately contact the bank with a request to block it due to its loss. Your efficiency will not allow fraudsters to use your money. There are many various ways to block the credit cards. You can apply to the office of the credit institution or use the terminal to implement the blocking. You can also use the services of mobile and Internet banking.

It also happens that the plastic was neither lost nor stolen but simply forgotten in the card-reader of the ATM. In a hurry or being distracted by a telephone conversation you took the cash and the plastic was forgotten. In such case, the next ATM user will get it. It would be perfect if the person who finds your property turns out to be a conscious one and will return it to you, but if not, then there remains one thing – to block the plastic immediately.

There is a rare case when the card is neither stolen or lost, but you suddenly receive phone calls or messages for confirmation of payments or other operations conducted via your plastic. In that case, you should contact the bank immediately and block not only the card, but also the client’s account.

If you lost the card, it is important to understand that it must be blocked because, in addition to the money stored on it, it could contain your personal data. Using the card one can get information about all your bank accounts and conduct unauthorized operations. If the lost plastic is subsequently found it is recommended not to use it without consulting the bank. In case if you have already received a new one, then the old card must be destroyed following the destruction rules.

One Reply to “When to Block the Credit Card”

  1. Very useful article! I recently lost a card and was lucky that I managed to block it on time!

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