What Should You Do If Your Wallet Is Stolen?
This guide gives you the steps to take immediately when your wallet is stolen, and why each one matters.
Lock down your cards first
Start with the cards. Call each issuer or use their apps to report the cards lost or stolen and have them frozen and reissued, and do the same with debit cards through your bank. Credit cards carry strong fraud protection, so any fraudulent charges are almost always removed, but reporting quickly is what secures that protection. Debit cards are more urgent since they draw straight from your bank account.
Protect your credit and identity
Because a wallet often holds enough information for identity theft, place a fraud alert or, better, a credit freeze with the credit bureaus to stop anyone from opening new accounts in your name. Then file a police report, which creates a record that helps with disputes and any identity-theft claims. Treat it as potential identity theft, not just lost cards.
Replace documents and monitor
Replace your driver’s license or ID, and take stock of anything else that was in the wallet, insurance cards, a Social Security card, keys, so you can replace them and watch for misuse. Over the following weeks, monitor your statements and credit report for anything unfamiliar, using the guidance in reading your credit report, and dispute any charge you do not recognize.
- Report or freeze every card in the wallet right away.
- Place a fraud alert or credit freeze with the bureaus.
- File a police report for documentation.
- Replace your ID, and note any other sensitive documents.
- Credit card fraud protection usually caps your liability at zero.
Frequently asked questions
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