Credit Card Lost? Here’s What To Do

At some point or another, just about everyone loses their credit card. It’s easy to panic, but take a moment to consider if you can retrieve it from where you left it. If not, you’ll want to act fast to ensure someone doesn’t find it and make unauthorized charges.

We’ll walk you through 6 simple, straightforward steps so you can protect your credit card account and reduce your risk of identity theft. The sooner you act, the sooner you can block unauthorized purchases and get a replacement card.

6 steps to take if your credit card is lost or stolen

If you've recently lost your credit card, here are the first 6 things you should do immediately to avoid fraud and missed payments.

1. Retrace your steps

If you just realized you lost your credit card, give yourself a minute or two to think about where you could have lost it.

Maybe you left it at a restaurant and the server still has it. Or if you left it at a shop, it could be up at the checkout. If an employee found your card, they may have placed it in the store’s safe. If so, you may be able to pick up your credit card from where you left it – just be prepared to show some photo ID.

2. Notify your credit card issuer

If you can't confirm where your card is within a few minutes, the next step is to notify your bank or credit card issuer right away. Tell them the date and time you lost your card so they can be aware of potential fraudulent transactions that may have taken place.

3. Lock or disable your card

If you know where your card is but can't make it back to the place in a short amount of time, many banks will let you lock or freeze your card to temporarily block anyone from using it to buy anything.

In some cases, you can even do this using your bank's mobile app.

4. Request a replacement card

If your card is completely lost, tell your bank to report your card missing, so they can issue a new one. This may take more time (usually 3-8 business days), but it's the most secure option you have.

Some banks may be able to issue you a digital credit card that you can begin using immediately.

5. Update recurring payments

If you requested a replacement for your missing card, your new card will have a new number. This means you'll need to update your payment information for recurring bills.

You may also need to use a different card temporarily if your credit card freeze is going to be for an extended period or if there's any chance of an overlap between the freeze and a payment cycle.

6. Check your future statements for fraudulent transactions

If you lost your credit card, even for less than an hour, it's important to watch your transaction history like a hawk for the next few days. Report any suspicious activity to your bank and continue watching your statement monthly (as you normally would).

How to report a lost credit card by bank

If you can't get your credit card back, you'll need to contact your bank to cancel the old one and replace it. Here are some pointers for each of the Big 5 Banks in Canada.

RBC

You can lock your RBC credit card through the mobile app or your online banking portal by clicking "Report a Lost or Stolen Card". This will prevent unauthorized purchases and cash advances but allow current pre-authorized payments, balance payments, refunds, and points redemptions to continue.

If it's lost or stolen, you can report it through your online banking portal or call RBC at 1-800-769-2512 any time, 24/7.

TD

You can report a lost or stolen credit card by calling TD's credit card customer service line at 1-800-983-8472. You can also lock your card in the TD app and unlock it when you recover it.

BMO

In addition to being able to lock your credit card, you can report it as stolen and replace it by signing in to your online banking. From the "My Accounts" page, choose your missing credit card and select "Report a Lost or Stolen Card" from the menu.

You can also sign into the mobile banking app and report the card as lost or stolen (or lock your card). This option also allows you to track the delivery status of a replacement card.

Additionally, you can call BMO at 1-800-361-3361 or speak to a representative at any physical BMO branch.

Scotiabank

Scotiabank has a few numbers you can call if your card is lost or stolen:

• 1-800-472-6842 (toll free)
• 416-701-7200 (Greater Toronto Area and outside of Canada and the United States)
• 1-866-267-4726 (for the hard of hearing)

You can temporarily lock your card using the Scotia app, which blocks new purchases, cash advances, and other transactions.

To reactivate it, simply use it with the correct PIN while making a purchase or insert it into a Scotiabank ATM.

Note that you can only use the app functions with a Visa or American Express. If you have a Scotiabank Mastercard, you’ll need to call Scotiabank or visit a branch.

CIBC

If you notice unusual activity on your card or lose it, sign in to the CIBC banking portal online or open up your app. From here, click "Report lost or stolen card".

You can also call the bank at 1-800-663-4575 if in Canada or the U.S. or at 1-514-861-9898 from anywhere else.

If your credit card was stolen, file a police report

If you know for sure that your credit card was stolen, having a police report on file will help protect you from liability for credit card fraud that may occur. You can also contact credit bureaus to place a fraud alert on your credit report.

This is especially important if you lost your wallet with a driver's license and other critical pieces of ID – identity theft is no joke.

After your credit card is cancelled and replaced, be sure to destroy any remaining copies of your card (for instance, credit cards for authorized users) and keep written records of all communications with the bank, police, and credit bureaus.

FAQ

What should I do if I lost my credit card?

If you can retrieve the card within minutes, great. If not, notify your card issuer, lock your credit card, and look for your card or request a replacement. Then, unlock your card or update recurring payments with your new card number.

Can someone use my credit card if I lost it?

Although someone can’t use your credit card where a PIN is required, they may be able to make purchases if the retailer only requires them to swipe or tap the card, which is why it’s so important to lock or freeze it.

Is losing a credit card a big deal?

It can be since someone may be able to swipe your credit card and make unauthorized purchases. This can damage your credit score and take a lot of time to figure out. Immediately lock or freeze your lost credit card.

Should I cancel my credit card if I lost it?

If you’re sure you lost it, you should cancel your credit card right away. Your credit card issuer will issue you a replacement card, which can take several days to get to you, so don’t wait.

Does replacing a lost credit card hurt your credit score?

Replacing your lost credit card does not impact your credit score at all. The only way your score could drop from a lost card is if someone found it and began making unauthorized purchases.

How much does it cost to replace a credit card?

The majority of credit card issuers will replace a credit card for free. However, some may place limits on the number of free cards you can request each year before they start charging a small fee.