Loss of Credit Card

POSTED BY Pradeep Joshi ON December 17, 2010 5:19 pm COMMENTS (2)

One of my friend who had gone shopping had his pocket picked alongwith his credit card. As soon as he realized this, he rushed home, found the credit card number from his records and reported the loss to the bank. The bank advised him that they are blocking his card from the moment he advised them. Later on he learned that the thief had used the card to make purchases worth Rs. 20000/-. This was before my friend advised the bank. According to the bank, my friend is liable to pay this amount as the card was used before it was blocked by the bank.

My simple question is : Why doesn’t RBI make it compulsory for banks to issue credit card with a photograph of the card holder ? This will greatly reduce such incidences of misuse of card.


Pradeep Joshi


2 replies on this article “Loss of Credit Card”

  1. Anand says:

    Well, I had also lost my wallet once in train and I called the cust care.

    I did not know the full credit card number but I had one transaction slip. At first that guy refused to block the card; but I told him my last payment and threatened to escalate the case if the card was not blocked.

    After asking some questions and after verification, the card was blocked.

    After that I took photo of my credit card with mobile camera.

  2. It’s a good suggestion for every card holder. Some banks issue credit card with photographs but one has to apply in application form.

    Your friend can go to consumer court and ask for proof of purchasing from bank. One has to sign on payment slip for credit card shopping. That’s the only way to get rid of this payment.

    For future, it’s better to store only credit card number in mobile wallet. Now-a-days, mobile phone gives this security feature.

    Hope it will help you.

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