How to Replace a Lost, Stolen, or Damaged Credit Card
At O1ne Mortgage, we understand the importance of maintaining your financial health and security. Whether your credit card has been lost, stolen, or damaged, replacing it is a straightforward process. Here, we provide a comprehensive guide to help you navigate the steps involved in getting a new credit card. If you have any mortgage service needs, feel free to call us at 213-732-3074.
Contact Your Card Issuer to Request a New Credit Card
The first step in replacing your credit card is to contact your card issuer. Depending on your credit card company, you can request a new card through various methods:
By Phone
If you still have your damaged or compromised credit card, call the number on the back of the card. If you don’t have the card in hand, check your online account or your latest credit card statement for the correct phone number.
Online
Most credit card issuers have an option on their website to request a new credit card. Simply log in to your account and follow the instructions provided.
Mobile App
Many credit card companies offer mobile apps that allow you to request a replacement card directly within the app. This can be a convenient option if you’re on the go.
When requesting a replacement credit card, you’ll typically need to provide some personal information to verify your identity. This may include your name, address, birth date, and Social Security number. You’ll also need to specify the reason for the request, such as whether the card is lost, stolen, or damaged.
If your card is missing or has been used for fraudulent transactions, the credit card company will usually cancel it and issue you a new card with a different account number. If the card is just damaged or worn out, you’ll receive a new card with the same account number.
How Long Does It Take to Get a Replacement Credit Card?
The time it takes to receive a replacement credit card can vary depending on the issuer. Typically, you can expect to receive your new card within seven business days. However, some issuers offer expedited shipping options. For example, American Express provides free next-day shipping, and Visa cards can be replaced in one to three days once your bank approves the request.
How Much Does It Cost to Get a New Credit Card?
The good news is that getting a replacement credit card is usually free. Whether you’re replacing a lost, stolen, or damaged card, or even if you’re changing your name due to marriage or divorce, there is typically no cost involved.
Shred Your Old Credit Card
Once you receive your new credit card, it’s important to dispose of the old one securely. Here are some methods to ensure your old card is destroyed properly:
Shredder
If you have a shredder that can handle plastic cards, this is the simplest option. Just run the card through the shredder to destroy it.
Manual Destruction
If you don’t have a shredder, you can manually destroy the card. Start by destroying the EMV or RFID chip (the little square symbol on the front). Then, run a strong magnet back and forth over the magnetic strip for a minute or two to demagnetize it. Finally, use a sturdy pair of scissors to cut the card into small strips. It’s best to dispose of the pieces in different trash receptacles to prevent anyone from piecing the card back together.
Metal Credit Cards
Metal credit cards can’t be shredded. The card issuer usually provides a prepaid envelope for you to send the card back for secure disposal. If not, you can contact them to request one. Alternatively, you can take the metal credit card to one of the card issuer’s bank branches, where a banker may be able to destroy it for you or mail it back safely.
Update Your Saved Payment Methods
When your new credit card arrives, activate and sign it. If you’ve been given a new account number, update your credit card information on any websites or subscriptions where you have it saved. While some merchants may receive automatic updates of your new card information, this doesn’t always happen. Keeping your accounts up-to-date with your current credit card information helps ensure that you don’t miss any bill payments, which could lead to late fees, penalties, or even having services canceled.
The Bottom Line
Dealing with a lost, stolen, or damaged credit card can be stressful, but replacing it is a simple process. By following the steps outlined above, you’ll soon be back to using your credit card worry-free. Remember, if you have any mortgage service needs, O1ne Mortgage is here to help. Call us at 213-732-3074 for expert assistance.
For added security, consider signing up for credit monitoring services. These services can alert you to unusual activity on your accounts, allowing you to act quickly to resolve any issues and protect your credit.
By taking these steps, you can ensure that your financial health remains intact and that you continue to enjoy the benefits of your credit card without interruption.
