How likely are you to lose your credit card?

Angus Kidman 12 August 2015

Lost credit cardsIt sucks when you have to get your credit cards or bank cards replaced, but just how often does that happen? We've crunched the numbers.

The Commonwealth Bank's annual report gives us a useful way to measure how often our cards are lost or stolen. The report says that in June 2015, CommBank issued 105,000 replacement cards.

While that sounds like a lot, the bank has 12.6 million customers in Australia, which means that just 0.8% of them needed a replacement that month. Over a year, that would add up to around 10%, but that's likely to be an overestimate. If you lose your wallet, chances are multiple cards will be replaced, and some cards will be reissued due to fraud concerns rather than theft.

So the good news is it's not that likely to happen. That said, clearly many of us are ready to give up cards altogether anyway. In June 2015, 2.7 million transactions were made using CommBank's Cardless Cash feature. We've recently seen Westpac add a similar service with its Get Cash option, and with those customer numbers it seems likely other Australian banks will follow suit.

Picture: Michael Coghlan, licensed under Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic (image cropped)

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question