Chase Debuts Lock/Unlock Credit Card Feature
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You know that sinking feeling when you realize you've misplaced a credit card or left it behind at a store or restaurant? A new rollout from Chase might put its credit card customers more at ease in those scenarios.
The issuer has launched a feature that lets cardholders lock and unlock their cards instantly from a smartphone or computer.
Cardholders can access the option either through the Chase mobile app or by visiting chase.com. Locking a card will immediately block new purchases, cash advances and balance transfers, Chase notes in a news release.
Once you locate your card, you can unlock it via the same channels. Locking the card does not affect automatic payments, so recurring charges will still go through. If the card is not found, customers can request a new one from Chase right away.
Chase plans on rolling out this feature on its debit cards later in the year.
Discover introduced the ability to freeze and unfreeze a card in 2015, and since then several other issuers have followed suit with similar features.
Having the ability to place a temporary freeze on your card can be a far more convenient option than canceling it entirely. Replacing a credit card or a debit card means you have to wait to receive a new one and update any recurring payments. Some issuers may also charge a replacement fee or shipping costs if you want your card sent overnight.
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