Credit cards! Oh, the new- age invention that has made our lives so easy… It’s month end, your bank balance is low but you just love something that’s ehm…a little expensive and you want to buy it right away. This is a classic case which most of us have gone through in our lives and of course, it is the credit card that would invariably come to our rescue. No liquid cash? No problem…Voila the credit card!
Credit cards are increasingly being used both for online and offline shopping – thanks to the convenience of transaction it offers its customers. But it is a fact that one cannot neglect that large amount of money has been stolen from people’s accounts simply because of the use of credit cards.
Therefore, while it is good to use the card, it is also very important to guard every detail of the credit card. Here are few things to remember while using a credit card.
1. Do not lend your card to anyone
The credit card is yours only and its details should be known to you alone. So, whatever the urgency is, you should never lend your card to anybody. If you would like to share the advantages of credit cards with your family, please apply for a supplementary credit card.
2. Protect your PIN code
Never share your PIN code with anyone. Also, do not make the mistake of putting down the PIN on paper or on your personal items like your mobile phone. Get your card blocked or change the PIN immediately if you suspect that a second person knows your PIN.
3. Opt for your picture on the card
You might not be picture perfect but hey beautiful, place your photograph on your credit card for safety. This way, even if you lost your card, you can prevent its misuse by any fraudster to a certain extent.
4. Lost your card? Report it right away
In the event of loss or theft of your card, report it to the bank. Offenders usually try to use the card as soon as possible, so call the bank immediately to prevent the damage.
5. Beware of fraudulent e-mails
E-mail scams are as old as e-mails themselves. Fraudulent e-mails make use of novel ways to get your card details. For instance, if you receive unsolicited fraudulent e-mails asking you to log in to authorized web sites or such other pretexts, it is simply to elicit information about your card, PIN, or other banking information.
6. Take care while paying with your card
Pay safely in shops and restaurants. Many a times, especially in restaurants, the waiter walks away with your card for swiping. Do not let this happen because your card is then at risk. Similarly in shops too, observe what the cashier is doing with your card when given for swiping. Also, always request a receipt for the transaction. Being careless about such transactions might cost us big. Take care of these small details and prevent big thefts.
What are the precautions that you take while using your credit card? Do share with us your safety tips.