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Understanding Credit Card Lock: A Guide by O1ne Mortgage

At O1ne Mortgage, we prioritize your financial education and security. In this article, we will explore the concept of credit card lock, its benefits, and when you should consider using it. For any mortgage service needs, feel free to call us at 213-732-3074.

What Is Card Lock?

Card lock is a feature offered by many credit card issuers that allows you to temporarily disable your card. This can be done through the card issuer’s app, web dashboard, or by contacting customer service. When your card is locked, new transactions and cash advances are declined, but recurring automatic payments continue as usual.

How Does Card Lock Work?

When you lock your credit card, the following typically occurs:

• Transactions are declined: Any new purchase attempts will be declined.
• Autopayments continue: Recurring payments like gym memberships and utility bills will still go through.
• Previous purchases unaffected: Past and pending transactions are not impacted.

Which Credit Card Issuers Offer Card Lock?

Many major credit card issuers offer the card lock feature, including:

• Apple
• Capital One
• Chase
• Citibank
• Discover
• Navy Federal Credit Union
• State Employees Credit Union
• U.S. Bank
• Wells Fargo

When Should You Lock Your Credit Card?

Consider locking your card in the following situations:

• Misplaced card: If you think you will retrieve your card soon, locking it can prevent misuse.
• Lost or stolen card: Locking your card immediately can prevent unauthorized charges before you report it.
• Compromised data: If your card information is compromised, locking it can prevent abuse.
• Seldom-used card: Locking an unused card can prevent misuse while maintaining its benefits.

Does Locking Your Credit Card Hurt Your Credit?

No, locking your credit card does not affect your credit score. The status of your card as locked or unlocked is not reported to credit bureaus. In fact, locking your card can protect your credit score by preventing unauthorized charges.

The Bottom Line

Credit card lock is a useful feature that can help you prevent unauthorized use and provide peace of mind. For additional security, consider free credit monitoring services. For any mortgage service needs, contact O1ne Mortgage at 213-732-3074. We are here to help you with all your financial needs.

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