What to do if you lose your credit card

Losing a wallet can be a real inconvenience – between ID’s, health fund cards, membership cards and bank cards there’s a lot of damage control to do – here’s what to do if you lose your credit card.

If you do realise you’ve lost a credit card the key is to act quickly. Here’s four things to do when you lose your credit card:

1. Lock, block or cancel your card

As soon as you realise your card is missing it’s important to either lock, block or cancel your credit card. If you’ve got a credit card with Heritage Bank then you’ll be able to do this easily via your mobile banking app or online banking. If not, you might have to ring or visit your bank in branch.

2. Check what’s been spent

Check your card’s spending history to see if there’s been any fraudulent activity. This includes any transactions that you did not carry out or authorise.  Most banks have zero liability policies. However, they could be dependent on you reporting the fraudulent activity as soon as possible.

3. List and contact businesses you have any recurring charges with

List and contact any businesses who you have recurring charges with. For example, it could include charges such as utilities, phone bills, gym membership, Spotify or Netflix memberships, and rent. If you don’t contact these businesses to let them know your new card details, you could be charged a fee for providing “invalid card”. If you find yourself losing your cards often you might like to consider giving these companies your BSB and Account number instead (you’ll need to make sure funds are available in your debit account for this to work).

4. Check your credit rating

Checking your credit rating is often overlooked when dealing with a lost credit card. By checking your credit card rating you might be able to see whether you’ve been the victim of identity theft. For example, if somebody has used your name to take out a loan it should show up on your credit rating. For more information on checking your credit rating visit Moneysmart

Losing a credit card can be stressful. By using a credit card management tool, such as the one found in the Heritage Bank mobile app, you can have instant access to managing your cards. For more information visit the mobile banking apps webpage

The information provided to you is general and may not be appropriate for you. Conditions, criteria and fees apply to products. Please consider the Guide to Heritage Deposit Products or the Guide to Heritage Credit Card Products (available in-branch, by phoning 13 14 22 or at www.heritage.com.au) before you decide whether a product is right for you.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.

The information provided is intended as general information only. Blogs have been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs. You should consider obtaining personal investment, taxation and/or legal advice before making any decision.  Please consider the Guide to Heritage Deposit Products and Guide to Heritage Credit Card Products (available in-branch, or at www.heritage.com.au) before you decide whether a product is right for you. All loans and credit cards are subject to application and approval. Conditions, criteria and fees apply and are subject to change without notice.