Hot Card is a debit or credit card that may not be used because it has been reported lost or stolen. If a thief (or anyone else) attempts to use a hot card, the transaction will be declined.
Banks hot card debit cards to prevent unauthorized transactions, protecting the money of both the cardholder and the debit lender.
Credit card companies and banks closely monitor card transactions for suspicious activity. By hot carding, they immediately stop all access to debit card funds, including through online transactions and automated withdrawals.
To learn more about hot carding, visit OpposingViews.com.
Check out 8 Important Tips for Safe Online Banking, shared by Better Business Bureau.