Your credit card is like emergency cash. It allows you to spend now and pay later. Credit cards have become an important part of our lives and are used to pay almost all the bills. With the wide usage of credit cards, frauds are on the rise. In this blog, we will discuss several tips which can help save you from credit card fraud.
1. As soon as you receive the credit card, make sure to sign on the back of the card. This helps identify your card while making a payment at shops, restaurants and so on. If you do not sign on the back of the credit card, chances are fraudsters could misuse them.
2. Do not write the Personal Identification Number (PIN) of your credit card anywhere. Develop the habit of memorizing the PIN.
3. Whenever you provide the credit card to any merchant to make a payment, make sure he does not charge you twice.
4. Always collect the credit card receipt, even when shopping online. This will help compare spending with a credit card statement. If you find any differences, report them to your card issuer immediately.
5. You might be in the habit of leaving credit cards lying around. You must always keep your credit card in a safe place like a wallet or a purse, just like you keep cash.
6. Do not allow anyone to see your credit card PIN while making the payments.
7. Change your credit card PIN frequently and choose a strong PIN.
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8. Make sure merchants swipe the credit card in your presence. Do not allow them to take your credit card to a different room for swiping.
9. In case you lose the credit card, report the loss to your credit card issuer as soon as possible and get it blocked. You must also file a police complaint at the nearest police station.
10. In case you receive a phishing email asking to provide your card details or personal banking information, delete the mail and do not respond to any such emails. Those emails are sent by fraudsters to steal money from your bank account.
11. Never hand over your card to anyone including bank representatives.
12. You must always use your credit card on trusted websites. Before providing card details on any website, make sure the page URL starts with https:// or it has a lock symbol in the browser bar.
13. Do not use public computers or Wi-Fi to make online purchases with credit cards. Public computers and Wi-Fi are less secure compared to the one you have at home. Using public Wi-Fi to make online purchases puts you at risk of having personal information stolen.
14. If someone calls you claiming they are from a bank, never share credit card details and OTP with them. Banks never ask for your card details and OTP over the phone.
15. Register your mobile number with the banks to get SMS alerts. In case you change the mobile number, inform the bank immediately and get it updated.
16. Never provide a photocopy of your credit card to anyone.
17. If you change the permanent address, inform the bank immediately. Ask postal authorities to send consignments to the new address.
18. Develop the habit of going through credit card statement before paying your credit card bills. In case you find any mismatch or unauthorized transactions, report them to your credit card issuer immediately.