Missing your credit or debit card?

Credit and debit cards give you an easy and convenient way to pay for purchases. But what happens if yours is lost or stolen? A lost or stolen credit or debit card can wreak financial havoc if you don’t take action quickly. Make sure you know what to do if you notice your card is missing, and follow a few tips to help keep your cards safe and secure.

Limit your financial loss

If you notice your card is missing, the first thing you should do is report it to the card issuer. Check a recent copy of your statement or go online to find the phone number. Once you’ve reported the lost or stolen card, the company will cancel your lost card and send you a new one.¹ If you think the card is lost at home, check online to see if you can lock or temporarily disable your card while you look. When you’re confident you don’t know where it is, give your card issuer company a call to replace it.

Though it is your responsibility to prevent financial loss by reporting a lost or stolen credit card, the Fair Credit Billing Act (FBCA) helps protect you from fraudulent charges on your credit card by limiting your liability. Your maximum liability for the unauthorized use of your credit card is $50. However, if you report the loss before the credit card is used, you won’t be held responsible for any charges.

Debit cards are slightly different—and are covered under the Electronic Fund Transfer Act (EFTA), rather than the FBCA. If you lose your debit card and notify your financial institution about the loss within two business days, you are only liable for up to $50 of charges. However, if you wait more than two business days, you could lose up to $500. As with credit cards, you won’t be held liable for any charges made after you’ve reported the loss.

Protect yourself

The best way to limit financial loss is to prevent it from occurring in the first place. Follow these tips to avoid losing your credit or debit card:

• First, know where your cards are at all times, and keep them secure. Carry only what you need. If you don’t plan on using a particular card, leave it at home.
• Be sure the cards you carry with you are in a location where they can’t easily be dropped, misplaced, or stolen. Avoid placing them directly in your pockets. Make sure they fit snugly inside the slots of your wallet, or, if you’re carrying them in a purse, make sure the purse is securely closed.
• Don’t use obvious numbers for your PIN, like your address, birth date, phone number, or Social Security number or keep your PIN with your debit card.
• Stay on top of your accounts. Review your credit card statements and periodically check your bank account activity, particularly if you do a lot of online banking. 

Despite following these precautions, if your debit or credit card is stolen, you’ll want to be ready. Create a “cheat sheet” that contains contact information for each of your cards, including the card issuer, your account number, and the expiration date. Having this information handy will help you report your lost or stolen card that much faster—and help protect your finances the best you can.

¹Equifax | Lost Credit Card: 4 things to do | 2026

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