Everyone is enjoying the comfort of having a credit card. They offer comfort, purchase protection, and often include appealing rewards. However, with the increasing occurrence of credit card fraud and theft, knowing a way to quickly and efficiently block your card in case of a loss or suspicious activity is vital.
Let’s understand all about “how to block and replace credit card”, using IndusInd Bank, for instance.
Why block your credit card?
There are numerous reasons why you might need to block your credit card:
- Lost or stolen card
- Suspicious transactions from your account
- Damaged or non-useful card
Regardless of the motive, it is critical to act quickly to save you from unauthorised use of your credit card and financial loss.
Methods to Block/Close Your Credit Card
Most banks provide multiple ways to block credit card. Here are the primary ways:
#1. Phone banking
This is the fastest and the best approach. For IndusInd Bank customers, you can call the toll-free helpline at 18605005004 or 022 44066666. A customer support representative will confirm your details and block your card.
#2. Mobile Banking App
Many banks, including IndusInd, offer the option to block your card through their mobile app. Here’s a standard process:
- Download and log in into the mobile app.
- Register the use of your credit card or net banking details.
- Login and navigate to the ‘Credit Card Services’ segment.
- Select your card and pick the ‘Block Card’ option.
- Confirm the option
#3. Internet Banking
Similar to mobile banking, you could block your card through the bank’s online portal.
- Log in to your internet banking account.
- Navigate to the credit card option.
- Select the option of a lost or stolen card.
- Choose the card and verify the blocking option.
Card Protection Plan
Some banks offer dedicated card safety services if you want to understand how to block and replace credit card. For example, IndusInd Bank customers can call 1800 419 4000 (toll-free) or STD Code 6000 4000 (toll-free) to activate their credit cards through these options:
Email: While not the fastest technique, you can email your bank to request a card block. IndusInd Bank affords numerous email addresses for unique card types:
Include your card details and the purpose of the block request in your email.
Branch Visit: If you want to communicate in person, you can visit your closest bank branch. To block your card, you will have to complete an application and submit proof of identification.
Replacing Your Credit Card
After blocking your card, the next step is to find a replacement. Here’s how to go about it:
- Request a Replacement: Most banks will initiate the replacement process while you report your card is misplaced or stolen. If not, explicitly request a new card.
- Verify your address: Make sure the bank has your updated postal address so they can issue the replacement card.
- Temporary Virtual Card: While you wait for your credit card, several banks provide a temporary credit card option for online purchases.
- Activate Your New Card: Once you receive your new card, follow the activation instructions provided. This commonly includes calling a designated number or activating via the bank’s app or website.
- Update Your Information: If you use your credit card for any payments or have it saved on diverse online systems, bear in mind to replace the card info once you acquire your new card.
Conclusion
Understanding how to block and replace credit card is a valuable ability in today’s economy. You may guard yourself against possible financial loss and fraud by being informed with the several strategies available to you and acting quickly when necessary.
Do not forget that your bank is an accomplice in ensuring the safety of your financial documentation. If you see any strange activity on your account or if you have any concerns, don’t hesitate to contact them. Remain alert, take unanticipated action, and maintain consistent financial knowledge.
FAQs
Q1. How long does it take to get hold of an alternative credit card after blocking the old one?
Ans: Typically, it takes anywhere from three to ten business working days for a new card to arrive. However, many banks provide expedited transport options, which could reduce this time to at least one to three business working days, even though this service may also come with an extra rate.
Q2. Will blocking my credit card affect my credit score?
Ans: Temporarily blocking your card won’t impact your credit score. However, closing it might affect your credit utilization and average credit age.
Q3. Can I use my credit score card for online transactions once I’ve blocked it?
Ans: The block is a protection measure that prevents all types of transactions to guard you from fraud. This is why it is critical to update any regular bills or saved payment info on websites when you receive your new card.
Q4. What if I locate my credit score card once I’ve already reported it lost and blocked it?
Ans: Once a card is blocked, it’s permanently deactivated for security reasons. The first step is to break the card into pieces, ensuring you narrow it via the chip and magnetic strip. For your new card, keep using the replacement method.
Q5. Is there a way to get an automatic credit limit without having to request it?
Ans: Yes, many banks provide automatic credit limits that will increase for customers who always show accountable credit score use.
Q6. Are there any charges related to blocking a credit card and getting an alternative?
Ans: Generally, if you’re blocking your card due to loss, robbery, or capacity fraud, most banks will now not charge a fee or for issuing a new card. However, if you’re requesting an alternative due to damage resulting from misuse or if you’re requesting expedited transport of your new card, you can incur a fee.