Lost Your Credit Card in Canada? Here’s What to Do

Losing a credit card can feel scary, but don't panic! You can resolve the issue and safeguard your finances. The most important thing is speed. If you act fast, banks usually protect you from the thief who may try to use your missing card.

This guide provides simple steps to protect your identity and bank accounts immediately, even before you receive your replacement card.

Quick Steps: Do These Right Away

1. Call your credit card company or use your banking app immediately to freeze the missing card.

2. Look closely at your recent purchases for anything you did not buy.

3. Put a fraud alert on your credit report (your money history file).

4. Report the loss to the police if you also had your wallet or ID stolen.

5. Monitor your bank statements carefully for at least the next few months to be safe.

8 Steps to Take When You Lose Your Credit Card

1) Call the Credit Card Company Right Away

This is the number one thing to do. As soon as you notice your credit card is gone, grab your phone and call the bank or the company that gave you the card.

Most banks list a 24-hour phone number on their website or app. Call them immediately. Explain that your card is lost or stolen, and they will cancel the card right away. This ensures no one else can use it to make purchases on your account.

The credit card company will then send you a brand-new card with a completely different number. If someone tries to use the card after you report it missing, then the new charges won’t go through. This also means you won’t be responsible for the charges you did not make. Reporting it quickly ensures both your account and your credit history stay protected.

2) Check Your Recent Transactions and Save Records

Next, you need to look back at the purchases made right before you realized the card was missing.

To do so, log in to your bank’s mobile app or the card’s website. Look carefully at the last few days or even weeks. Do you see any strange charges or purchases you did not make? These are called "unauthorized transactions."  If you find anything that looks suspicious, write it down or take a screenshot. Then, report it.

Report every unusual charge to your credit card’s issuer so they can start an investigation. Be sure to keep any emails or messages from the bank, as they may help if you need to provide proof of what happened later on.

3) Put a Fraud Alert on Your Credit Report

A fraud alert is like a warning sign placed on your file, called your credit report.

This warning tells any company thinking about giving you a new loan or card to check with you first. This step makes it much more difficult for thieves who might try to use your information to open a brand-new account in your name.

If you want stronger protection, you can also ask for a credit freeze. A freeze completely blocks anyone from getting new credit using your name until you tell the credit bureau to unfreeze it.

In Canada, you can ask Equifax or TransUnion to add a fraud alert to your credit report. This step will protect you by making it harder for someone to open new accounts using your information.

4) Report Identity Theft to the Right Places

A missing credit card is not great, but losing important ID documents (like a driver's license or health card) is much worse. If you think someone stole your identity, meaning they are pretending to be you, you must report it.

First, call the police if you had your wallet stolen. This allows you to get a police file number, which is helpful for the bank as well.

Next, you can call or file a report with the Canadian Anti-Fraud Centre. They collect information on scams and theft.

If the problem deals with government accounts (like your taxes), report it to the Canada Revenue Agency.

The Office of the Privacy Commissioner of Canada also advises people to report identity theft promptly.

5) Change Passwords and Secure Your Accounts

If your card gets lost along with your phone or wallet, other important passwords could be at risk.

Change the passwords for your online banking, email, government sites, and shopping accounts. Always use a strong, unique password you don't use anywhere else.

Also, turn on two-factor authentication (2FA) for any account that supports it. This adds a second layer of security, such as a code sent to your phone when you sign in. It helps keep your accounts safer and makes it more difficult for anyone to access them without your permission.

6) Watch for Signs of Fraud in the Weeks and Months Ahead

You might have a replacement credit card, but that doesn’t mean you should stop checking your bank accounts. Keep monitoring your statements and online banking for at least three months.

Look for small charges too. Fraudsters often make a tiny test purchase (like $1.00) first to see if the card works before making a larger purchase. Report any charges right away, no matter how small they are.

Also, check your credit report to see if any strange loans or new accounts appear in your name. If you spot something odd, contact both the lender and the credit bureau right away.

The Financial Consumer Agency of Canada explains how and when to dispute unauthorized transactions.

7) Replace Other Lost Items and IDs

If you’ve had your whole wallet or bag stolen, you might need to replace your driver's license and health card as well. Each document has a different process for replacement.

8) Learn More to Prevent Future Problems

Here are some additional tips to keep your money safe:

• Never write your PIN (Personal Identification Number) or passwords on a piece of paper that you carry with your card.
• Sign up for alerts so your phone or email gets an automatic message every time a charge happens on your card.
• Use your banking app to instantly "freeze" or "lock" a card if you notice it’s missing. Consider doing the same if you spot a potentially fraudulent charge on the account.
• Shred old statements, receipts, and any documents that have your card number on them before throwing them away.

To learn more about fraud protection, read our blog post: What Is Credit Card Fraud Protection?

When to Call the Police

Always call the police if you had your wallet stolen, or if you realize your personal documents or ID are missing. Ask the officer for a report or file number. You may need this proof for your bank, the credit bureaus, or government offices when you report the theft.

The Canadian Anti-Fraud Centre and provincial privacy offices suggest getting a police report for identity theft cases.

Final Quick Checklist

• Call the card company to cancel the card.
• Review recent purchases and save the records.
• Place a fraud alert with the credit bureaus.
• Report any theft to the police and anti-fraud agencies.
• Change passwords and use 2FA for your online accounts.
• Keep watching your bank statements and credit report.