New Delhi, Oct. 7 -- A credit card is an important tool for day-to-day financial transactions. Losing one can be stressful, especially when contactless payments are enabled. Since eligible low-value contactless transactions may not require a PIN, a lost card could potentially be misused before you realise it is missing.

The good news is that quick action, vigilance and following the right steps can significantly reduce the risk of unauthorised transactions. Here are five steps you should take after losing your credit card to protect your finances, credit score and overall credit profile from potential adverse impacts.

The first step is to contact your bank or credit card issuer and promptly block the lost card. If your banking app offer...