Lost or Stolen Credit Card: What to Do and What You Owe

Independent guide - not affiliated with or endorsed by any card issuer, bank, card network or credit bureau. For your own account, contact your issuer through its official website, app or the number printed on your card.

If your credit card is lost or stolen, lock or report it immediately through your issuer's official app, website or the number on the back of the card. Under federal law, your liability for unauthorized use of a credit card is capped at $50, and you owe nothing for charges made after you report the loss. Many issuers go further and waive even that amount.

Do this first

1. Lock the card in your issuer's app if it has a lock or freeze switch. This stops new purchases while you look for the card.
2. Report it as lost or stolen through the app, the issuer's website or the phone number on your statement. Use only official contact details, not numbers from search ads or unexpected texts.
3. Review recent transactions with the issuer and point out any you did not make.
4. Ask for a replacement with a new number, and ask when it will arrive.
5. Write down the date and time you reported it and the name or reference number given.

How much you can owe: the $50 limit

The Truth in Lending Act limits a cardholder's liability for unauthorized use of a credit card. Under 15 U.S.C. 1643, you can be held liable only if certain conditions are met, and even then the liability cannot exceed $50. The law also says you have no liability for unauthorized use that happens after you notify the issuer. Apart from that section, a cardholder incurs no liability from unauthorized use.

In practice, card networks and many issuers advertise zero-liability policies for unauthorized transactions, so you may pay nothing at all. Check your cardholder agreement for the exact terms. Debit cards are covered by different, less generous rules, which is one reason many people prefer credit cards for online and travel spending; see credit card vs debit card.

If the card is still in your wallet but the number was stolen

Skimmers, data breaches and phishing can expose your card number without the card ever leaving your hands. The steps are the same: report the fraudulent charges, ask for a new number and watch the account. Report as soon as you spot a charge you do not recognise. If a charge is a billing error rather than fraud, such as a merchant charging twice, our guide on how to dispute a credit card charge explains the written-dispute process and its deadlines.

After the replacement arrives

• Update recurring payments and saved cards in shopping apps, subscriptions and mobile wallets. Some issuers update them automatically; check that bills did not fail.
• Destroy the old card if you find it, as it no longer works.
• Activate the new card through official channels. If something goes wrong, see how to activate a new credit card.

When to suspect identity theft

If your wallet was stolen with ID documents, or you see new accounts or hard inquiries you do not recognise, treat it as possible identity theft. Report it at the FTC's IdentityTheft.gov, place a fraud alert or security freeze with the credit bureaus, and check your reports. Our guides on how to freeze your credit and how to check your credit report walk you through both.

Prevent the next one

• Turn on transaction alerts for every purchase, or for purchases above a small amount.
• Use a mobile wallet or virtual card numbers for online shopping where your issuer offers them.
• Carry only the cards you need and keep a list of issuer phone numbers somewhere other than your wallet.
• Never give your card number, security code or one-time passcode to someone who contacted you first, even if they say they are from your bank.

Common scams after a card is lost

Fraudsters know that people who have just lost a card are anxious, and some target them directly. Be wary of:

• Calls or texts claiming to be your bank's fraud team that ask you to read out a one-time passcode, your full card number or your PIN. A genuine fraud team will not ask for a passcode it sent you.
• "Card recovery" or "refund" services that charge a fee to help you. Reporting a lost card and disputing fraud with your issuer is free.
• Links in messages that lead to lookalike login pages. Open your issuer's app or type its web address yourself.

Lost card while travelling

If you lose a card abroad, lock it in the app and call the issuer using the international number printed on your statement or listed on its website. Ask whether an emergency replacement card or emergency cash is available; some issuers and card networks offer this, and the terms vary. Carry a second card kept separately from your wallet, and keep digital copies of your issuers' contact details, so a single lost wallet does not leave you without a way to pay. Our guide to foreign transaction fees covers choosing travel-friendly backup cards.

Keep a record

Write down every call and message: date, time, who you spoke to and what they agreed to do. If a charge you reported as unauthorized appears on a later statement, you can point to the date you notified the issuer, which matters for the liability limit.

Sources

• 15 U.S.C. 1643: liability of holder of credit card
• FTC: IdentityTheft.gov
• eCFR: 12 CFR 1026.12 (Regulation Z, liability for unauthorized use)