August 31, 2025 · 11 mins read
Santosh Kumar
Credit cards are the most sought-after cards all over the world in recent times. The increasing popularity of these financial cards often makes them vulnerable to credit card fraud, including credit card theft.
Credit card thefts happen when authorized or unauthorized users use a victim’s credit card to do transactions, make payments, or transfer money to another account, obviously without the permission of the credit card owner. Credit card thefts are among the most serious crimes in today's world. In India alone, approximately 47% of the urban population have reported credit card thefts in the past 3 years, amounting to a whopping Rs 1200 crore in the year 2023-2024 alone. With the steadily increasing growth of credit card fraud/theft, it is high time that credit card users remain constantly vigilant and use preventive measures to stop such incidents from happening in the future.
Most credit card thefts happen when credit card fraudsters gain access to the victim’s credit card, either physically or online. If a credit card is lost or stolen, the victim must inform the credit card issuer immediately to prevent huge financial losses and serious complications. A stolen credit card may also be used for illegal transactions, so it is better to block or cancel the credit card once it is stolen. Blocking a credit card instantly protects the victims from any misuse of the card or any modern-day fraud. It is necessary that victims do not panic and cooperate with the banks and credit card providers in every possible way to ensure the process of credit card block happens smoothly. There are innumerable ways to block a credit card in case of theft.
Prompt reporting is essential to notify the credit card issuer of the credit card theft. Online ways are faster and more convenient ways to block credit cards instantly in case of theft. All credit card users and banks have their own dedicated mobile apps, websites, or net banking portals so that users can access their credit cards. In case of theft, victims can simply log in to any of the sites and click on the credit card block. In no time will the users be notified of their credit card block, both online and/or through SMS.
Most leading banks have WhatsApp and ChatBanking facilities available for the ease of their customers in any part of the world. In case of credit card theft, simply type credit card block to freeze the credit card instantly.
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Some banks also have the option to block credit cards via email. Credit card users just have to send an email from their registered email ID to the respective bank’s email ID to hotlist their credit card in case of a credit card theft.
For the not-so-internet-savvy persons or in places where the internet is not accessible, victims can call the 24/7 Helpline of their credit card issuers and inform them of instantly blocking the credit card, and their job is done. These 24/7 Helpline numbers are often toll-free and available 365 days a year. Users simply have to dial the number and follow the instructions from the IVR menu.
Some banks support SMS banking, whereby credit card theft victims can send an SMS in a specific format from their registered phone number to the bank's number, and they will soon get a confirmation SMS of the credit card block.
Alternatively, one can visit the nearest bank branch in person and speak to the bank representatives. In such cases, bank representatives may ask for identity documents before blocking a credit card or, in other words, canceling the stolen credit card.
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For physical theft of a credit card, it is advisable that a report be filed at the local police station to stop any suspicious activities with the stolen credit card. An FIR (First Information Report) can be used as an official legal record to document credit card theft. By reporting to the local police station, victims are making sure that the police also help in the investigation process of finding their stolen credit cards.
As credit card theft is a cybercrime, CyberCrime should also be notified of the credit card theft, either by calling CyberCrime Helpline or filing a complaint online at cybercrime.gov.in.
Though both online and offline methods are reliable to block credit cards in case of credit card theft, it is advisable that the victims wait for final confirmation from the credit card issuers or banks about the credit card block. A credit card block may be permanent or temporary. Banks or credit card issuers will speak to the credit card holder before blocking the credit card permanently or temporarily. Credit card block, if done permanently, is called credit card hotlisting. Victims must also closely monitor their credit cards if any fraudulent transactions are happening by regularly checking their credit card account statements and checking their SMS for any unauthorized transactions. Credit card issuers must also be sure to change their PIN/passwords even after a credit card theft and use strong, unique passwords.
Consumer education is very important to prevent credit card fraud, including credit card theft. There are many types of credit card fraud happening in India and the rest of the world. In most cases, it is only after they detect suspicious activities that customers realize their credit card fraud/theft.
Card-Not-Present Fraud: Such types of fraud happen when a fraudster uses credit card information for transactions without using the physical credit card.
Account Takeover: Malicious hackers use the ID and password of the actual credit card holder or their personal details to make online purchases without the permission of the credit card holder. Lost Credit Card/Credit Card Theft: In many cases, due to the negligence of the credit card owners, they physically lose their credit cards, and then fraudsters use the stolen credit cards to perform fraudulent or illegal transactions.
Phishing: Phishing is a form of cyberattack where phishers or scammers target innocent people by calling them or sending them e-mails or messages, stealing sensitive personal information or details like credit card numbers or PINs.
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Banks and credit card providers are continuously updating their security measures from time to time to prevent any form of fraud by using modern technologies, and even AI-based and machine learning technologies. Customers should be cautious while using credit cards. It is the responsibility of credit card holders to keep their credit cards safe and prevent credit card theft.
Some of the steps to prevent credit card theft are
1: After every transaction, credit card users must keep their credit cards safe in order to avoid misplacing them. Credit cards must always be kept in safe places like wallets or purses.
2: Never share personal information or credit card details with anyone.
3: Customers must take care to use their credit cards only on trusted websites, like HTTPS websites, for online transactions.
4: Never click on any WhatsApp links or SMS links from any unknown senders.
5: Never store credit card information anywhere, like CVV, passwords, etc. In fact, it is better to memorize them.
6: It is best to avoid public WiFi, as it poses serious security threats, as these public WiFi spots could be potential homes of fraudsters.
7: Sensitive information like PINs, IDs, passwords, etc. must be changed from time to time. It is recommended to use strong PINs and passwords.
8: Credit card bills must be disposed of properly and not thrown in public places.
9: Credit card users must monitor their credit card statements and credit reports from time to time and make sure to inform the banks of any suspicious transactions.
10: A minimum of two-step authentication must be required for online transactions.
Credit cards can be a boon as well as a curse if not kept properly. Modern credit cards come with enhanced security features. As the number of credit card users is increasing in our country, credit card thefts or credit card frauds are becoming increasingly common. India alone accounts for more than 10,000 credit card theft cases per quarter. Every year, crores and crores are lost due to these credit card frauds. Credit card thefts not only drain us financially but also emotionally. One must be very careful while using credit cards to take their maximum advantage.
Fraudsters are constantly finding modern and better ways to gain unauthorized access to others' credit cards. Hence, credit card users must self-educate on the safe practices of using credit cards, like keeping credit cards safely so they are not accessible to others, and double-checking any online transactions they do using credit cards. Credit card owners must be able to recognize fraudsters or scammers. Credit card passwords must be strong and changed from time to time. In case of credit card theft, credit card users must promptly inform the bank immediately through their 24/7 helpline numbers. One can also report the banks through their various online methods like net banking, mobile banking, etc. By blocking credit cards, banks are assuring us that the stolen card will be canceled or blocked for any further transactions by unauthorized users.
As per the RBI, customers will have no liability if they report to the banks within 3 days of the fraud. Since credit cards are also the credit card issuers' responsibility, customers can rest assured that they will get full cooperation from the banks or credit card providers in case of credit card theft. Banks are doing their best to safeguard credit cards and protect them from fraud or theft. Users can make use of the various credit card protection technologies to protect their credit cards and avoid any financial losses incurred from credit card theft. These protection technologies are readily available.
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If someone's credit card is stolen, the customer should immediately report the theft of the credit card to the credit card issuer, who will assist in blocking the credit card instantly. There are both online and offline ways to block a credit card in case of credit card theft.
If there is a credit card theft or credit card fraud, it is better to freeze or block the credit card after informing the concerned credit card authorities. A credit card block ensures that the card is blocked for any future transactions by anyone.
A credit card must be blocked immediately after it is stolen/lost to safeguard the financial security of the credit card holder as well as to protect their personal information.
Yes, credit card theft is a grave crime, with hefty penalties and, in some cases, even imprisonment for the fraudster if proven guilty.
Yes, of course. In the current digital world with advanced technology, credit card thefts may happen without the physical card. Such thefts are also known as card-not-present fraud (CNP fraud).
A credit card block can happen instantly only if the theft is reported promptly to the credit card providers. In such cases, credit card providers may also help to recover any money lost through fraudulent transactions.
Once credit card theft is reported to the concerned credit card issuers or banks, the card is blocked immediately, in no time. This is to prevent any fraudulent payments using the credit card. Banks and credit card providers do not charge anything for blocking a credit card.
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