Posted by William Charles on September 27, 2018
Credit Cards

Published on September 27th, 2018 | by William Charles

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Chase Adds Ability To Lock & Unlock Cards

Chase is the latest credit card issuer to allow cardholders the ability to lock and unlock their credit cards. When a card is locked no purchases, cash advances or balance transfers will be able to be made. Chase is one of the last card issuers to add this functionality. Discover was the first, Citi, American Express, Capital One and Bank of America all offer this ability (although it’s only possible on debit cards with Bank of America).

I’m a massive fan of these types of user controls, it’s not uncommon for me to misplace a credit card. With this ability I can just lock the card until I find it, rather than having to cancel the card and request a new one. Chase credit card holders should have access to this feature now, debit cardholders will need to wait until later in the year for the functionality to go live.

Hat tip to TPG



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Anthony
Anthony

Sigh.

These features seem really great. Consumer friendly even!

I must be one of the cynics that see this as the start of fraud responsibility being forced on the consumer.

Lost your credit card? Forgot to lock it via app? Someone found it and charged $10000 on it?

Tough luck, you really should have locked it faster.

I sure hope it doesn’t come to this!

Dylan
Dylan

Card locking is one of those things where everyone wins. Banks win because they can avoid fraud, and you win because you dont have to take the time to dispite any potential charges. Banks also dont have to spend the money to print and send new cards if the user ends up finding their old one. With the huge customer base these card issuers have, the cost to impliment such software likely massively outweighs the loss from potential fraudulent charges in just a few years.

Dylan
Dylan

That sounds absurd. What if someone pickpockets you so you dont even know the card is missing?

Although to be honest, i wouldnt put it behind the banks trying something like this.

Charlie
Charlie

Has anybody actually seen this feature on their Chase account page? I have two Chase cards and have not yet seen it.

dmoney
dmoney

On the app just click the 3 dots next to the card. online, its in the dropdown for “things you can do.”

Lily
Lily

For old cards that are kept in the drawer, is this one way to keep it ‘active’ without spending on it?

VL
VL

I m not sure if this is a good idea. This way the bank will know for sure you are not even going to spend.

JackRyan
JackRyan

+1

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