What to do if you lose your credit card

Two years ago, I took a trip to London and Paris with my family. While on a day trip to Leeds, I made the silly mistake of leaving my Chase Sapphire Preferred credit card in the terminal when I bought lunch. I didn't realize it until I was back to London with no way of getting my card back.

Inform your bank immediately

While you are waiting for your replacement card to arrive, you'll need another credit card for any purchases that come up. This is why it is a good idea to have at least two credit card accounts at any given time. You don't want to get stuck unable to make an important purchase!

Use a backup card temporarily

Update your automatic payments

Losing a debit card can be worse than losing a credit card , however. When you lose a credit card, the issuer simply removes the unauthorized charges. When you lose a debit card and someone uses it, that money comes right out of your bank account and you may have a higher liability than with a credit card. You should get most, if not all, of your money back. However, it can take months for that to happen.

Losing a credit card is not the end of the world

More Clark.com Credit Card stories you might enjoy: