Deep Dive: Lost or Stolen Cards
Credit card replacements fall into two major categories based on security concern. If a card is being replaced because it's worn, damaged or has expired, most credit card companies will provide a new card with the same card information (and an updated expiration date) and request that the old card be destroyed. In theory, both cards could be used interchangeably, because the card number and account information is the same.
However, if the card has been lost, stolen, or otherwise compromised, a new card number will be generated, and the old card number will be deactivated, to avoid it being used. Assuming the bank provides the updated card information to our payment processor, we will automatically update the credit card on file, regardless of why you replaced your card.
If their information has automatically updated, you may still choose to input the new information. Better to be safe than sorry. :)
You wanna more? Click here to learn all the ins and outs of lost or stolen credit cards directly from the Federal Trade Commission.
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