What Should You Do If You Find a Credit Card?

Finding a lost credit card can present an unexpected situation. While the immediate impulse might be to help, it’s important to understand the correct and responsible actions. This guide outlines the appropriate steps when you encounter a credit card that does not belong to you, ensuring both your protection and that of the card’s rightful owner.

Initial Assessment and Precautions

Discovering a lost credit card necessitates careful handling to avoid potential legal issues for yourself and to protect the cardholder from fraudulent activity. Using a found credit card is illegal and can lead to serious charges, including theft and credit card fraud. Penalties for such offenses can range from misdemeanor to felony convictions, resulting in significant fines or prison sentences.

You should never attempt to use the card for any purchase, regardless of how small the amount. It is also important to avoid trying to gather personal information about the owner from the card itself or sharing its details with anyone else. The primary concern should be to prevent any potential misuse of the card, protecting the original cardholder from unauthorized transactions and the associated hassle of identity theft. The finder still bears the responsibility to act ethically and legally.

Reporting and Returning the Card

The most effective way to address a found credit card is to report it directly to the issuing financial institution. You can usually find the bank’s name and a toll-free customer service number printed on the back of the card. This number connects you directly to the card issuer.

When contacting the bank, clearly state that you have found a credit card and are not the cardholder. While the bank representative may ask for the full card number to identify the account, avoid volunteering this information unless specifically requested and after confirming the legitimacy of the call. The bank will typically cancel the found card to prevent any unauthorized use and arrange for a new card to be issued to the owner. This process secures the cardholder’s account and ensures a replacement is sent without delay.

As an alternative, if the card was found within a business establishment, you can hand it over to a manager or employee. Local law enforcement agencies also have procedures for handling found property, and you can turn the card over to them if you prefer or if contacting the bank directly proves difficult.

Handling Unreturnable Cards

In situations where direct return or reporting to the bank is not feasible, or if the bank advises against returning the card, secure destruction becomes the necessary final step. Properly destroying the card prevents any possibility of future misuse or fraud. Simply discarding the card, even if cut in half, is not sufficient, as determined individuals might still piece together information.

The most secure method involves cutting the card into multiple small pieces, ensuring that the magnetic strip, the embedded chip, the account number, and the security code are all rendered unreadable. Using sturdy scissors to cut through these key areas multiple times is effective. Some paper shredders are designed to handle credit cards and provide a higher level of destruction. For metal credit cards, which are difficult to destroy with standard tools, contact the issuing bank for specific instructions, as they often provide a secure return envelope for proper disposal. After destruction, it is a good practice to dispose of the small pieces in separate trash receptacles to further deter any attempts at reconstruction.