Earlier quoted context omitted.
When you lose your credit card and you call your credit card company and them them that you lost it, they issue you a new card with new numbers; this way anybody that had the information on the card would not be able to make further transactions. I would consider the card lost when a company would not delete the credit card information on my request to delete the information.
A new number doesn't necessarily prevent charges from vendors who had the old one. For your convenience the banks actually allow new charges on the old cards after they are cancelled. I assume they whitelist vendors that have good reputations or filter based on patterns of charges against your account which you have not disputed. Verizon was able to charge against my old account for over a year. I kept getting snail…
I have not heard this before. My bank certainly doesn't do this and its a major bank. I actually proactively ask for new cards periodically so that the old ones are no longer valid.