Call Your Bank
Whether you lost your wallet or noticed something unusual on your credit card account, call your bank immediately to notify them. They will cancel the lost or stolen credit card and will reissue a new one. If you were using your previous card in automatic billing, make sure to update the information with the new card, or forward it to the said company.
Choose a New PIN Number
Once you receive your new credit card, choose a new PIN number. Don’t use something obvious. If the thieves left with your wallet and your PIN number is as easy as your birthdate or part of your phone number, it will be easy to crack. Use a PIN number that has nothing to do with anything in your life, not even your kids’ birthdate. Moreover, do not write it down. Memorize it.
Destroy Any Associated Cheques or Cards
If you have cheques or other cards associated with the stolen one, do not use them. You should destroy them at once.
Make a Police Report
If your credit card was stolen, call the police and file a report. Doing this could help catch the felon.
Keep Documents That Might Be Helpful
Keep any documents that you think might be helpful to the police for their investigation.
Contact Credit Bureaus
Call Equifax and TransUnion, which are the two credit reporting agencies in Canada. Ask them to put a fraud alert on your credit profile. Ask them also for a copy of your credit report and notify them of any incorrect information.
You should keep written records of everything. Whether it be your communications with your bank, the police, the credit bureau or any other place you contacted. Write down the date and time, the name of the person you talked to, what was said and any additional information. Better write too much than not enough. Keep these notes safely in a file. Whenever there’s a follow-up or an update, add that information to it. It will help you keep track of everything, and if any problem should arise, you will be able to refer to your notes to clarify everything.
What to do in the meantime
While waiting for the situation to resolve itself, what can you do? If you need cash fast while waiting for your new credit card to arrive, maybe an online personal loan could be a short-term solution for you. They’re easy to get, and the money is deposited in your account within 24 hours. You can then repay the loan within three months. It’s a simple solution that can help you out in a sticky situation.