lost iphone

Hello nelisa1992,

Thanks for asking the Apple Support Communities for help with your lost phone.

Yes, if you erase the device, it will not remove any info from iCloud, only remove the data from the device. But you may prefer just to lock the device.

This article talks about lost devices: If your iPhone, iPad, or iPod touch is lost or stolen - Apple Support

"Turn on Lost Mode. Using Lost Mode, you can remotely lock your device with a passcode, display a custom message with your phone number on your missing device's Lock screen, and keep track of your device's location. If you added credit, debit, or prepaid cards to Apple Pay, the ability to make payments using Apple Pay on the device is suspended when you put your device in Lost Mode."

"Erase your device. To prevent anyone else from accessing the data on your missing device, you can erase it remotely. When you erase your device, all of your information (including credit, debit, or prepaid cards for Apple Pay) is deleted from the device, and you won't be able to find it using Find My iPhone. After you erase a device, you can't track it. If you remove the device from your account after you erase it, Activation Lock will be turned off. This allows another person to turn on and use your device."

Thanks and have a wonderful day.