Chase customers can now lock and unlock their Chase credit cards immediately – to stop potential fraudulent use of their cards.
The feature will allow customers to lock or unlock their cards from their phones through the Chase Mobile app or from a computer via chase.com. This will allow them to instantly block new purchases, cash advances and balance transfers when they have misplaced their credit cards.
If the card is misplaced and found, customers can unlock it. Locking does not affect automatic payments.
Chase said it will offer the feature for debit cards later this year.
According to CreditCards.com, credit card theft is on the rise. Traditionally, criminals use a lost or stolen credit card, but now the means of credit card theft are becoming more varied.