Credit card lost

[gaja742]

How can I stop my credit card which I lost and get new one? Can anyone help me?

[vsncas]

The Economic Times dt 10.10.11, published an article on this issue under Paper work column of Financial Planning. I reproduced the essential part for your reference.

The loss of a credit card must be reported at the nearest Police station and an FIR should be filed. A copy of the Fir has to be given to the card issuer.
If the card is covered under Insurance, the card holder has to fill a claim form. This should be submitted along with the FIR, statement of transaction highlighting the relevant transactions and a copy of the written complaint of loss that has been filed earlier.
Liability protection comes into effect only after the customer informs the issuing bank about the loss. In some cases, the policy of the bank may also cover transactions before the loss is reported, but within a specified period.

But the following points shall be noted:
The liablity protection facility does not cover the misuse of the lost card through PIN- based ATM and internet transactions.
If a credit card that has been reported lost is subsequently found, it should not be used again by the card holder. It should be cut across the magentic strip and surrended to the card issuer.
If a replacement card has been issued, the outstanding amount on the old card, according to the liability policy of the bank, will have to be settled by the card holder.

Finally, once the loss is reported, the issuer hotlists the card and further transactions are frozen.

V.Senthilnathan

[gaja742]

Thanks Mr. V. Senthilnathan for your detailed reply.