Hey, can you tell me about credit card hotlisting please.
Credit card hotlisting is a security measure taken by card issuers to protect cardholders from fraudulent activities. A hotlisted credit card could be deactivated when reported lost or stolen. When a credit card is hotlisted, it is immediately flagged in the bank’s system, preventing any unauthorized transactions from occurring.
A bank hotlists the credit card on the request of the cardholder. So if you report loss or theft of your credit card, the issuer will verify your identity and proceed to block the card. This will ensure that there is no misuse. This action not only safeguards the account holder’s finances but also provides peace of mind during a stressful situation.
Hotlisting can help streamline the process of issuing a new replacement card. Once a credit card is successfully hotlisted, banks usually expedite sending out a new card with updated information to minimize disruption for the customer.
This is all about credit card hotlisting. Reach out if you have any questions.