It is important to
learn how to use a credit card safely because credit card usage is very common
and convenient. If the user is responsible and is careful about how the credit
card is used he can save himself a lot of misery and bad debts.
Credit card fraud
is rampant and the card issuers and banks are finding it tough to contain
credit card crime thanks to advancement in technology.
Simple Dos and Don’ts
The credit card PIN
number should never be shared with or given to anyone, simply because it is
unnecessary for anyone other than the user. The PIN number should never be
given over the telephone or in response to an e-mail . Invariably, it is the
crooks who ask for such information and banks will never ask for such sensitive
information. When making a credit card payment while shopping the credit card
user must insist on the portable payment device where he can enter the PIN
number himself. It is necessary that the credit card is never out of sight when
the shop assistant is processing the transaction. The credit card statement
contains vital information about the bank account and should be filed away
safely. Once the statement is read and no longer required it should be
destroyed by using a paper shredder or by burning it. Never write down the PIN
number and keep changing the PIN number periodically.
How To Use A Credit Card Safely Online
It is important to
understand that online transactions are safe these days and if precautions are
taken credit card fraud can be prevented. When applying for a credit card
online the information given is sent and received in an encrypted format to
ensure safety. When using the online service provider’s website please be sure
that the URL (uniform resource locater) is ‘https’ and not simply ‘http’. https
ensures that the website is hosted on a secure and safe server and there is no
danger of loss of privacy or personal account related information that can
compromise the online transaction. It is reassuring to learn that applying
online for a credit card is far safer than filling out an application form and
sending it by conventional mailing methods. That is because more people are
handling the mail and even a postal employee can access valuable personal,
financial information without being detected.
Most online service providers
allow access to the online account information where transaction history,
payment details and the facility to make online payment in real time is
possible. The user does not have to wait for 3 days to check if the transaction
has been updated or not. One can also report loss of card immediately. The
account management systems are such that SMS messages and e-mail alerts are
immediately sent whenever the credit card is used. Spending limits can be
pre-set to avoid over spending.
How To Combat Phishing
Phishing is another
method employed by crooks and scammers to steal credit card information and
personal details. A harmless looking mail seemingly to have originated from
reputed banks and reputed companies like Bank of America, eBay, PayPal asking
you to update some personal information should set the alarm bells ringing. A
fake link will lead the unsuspecting user to another page where the information
given may be used to access the personal account. Or the e-mail will contain a
prize announcement which requires a small payment by credit card and if the
user is naive enough to furnish credit card information the unscrupulous identity
thief can use that information to inflict severe damage.
If it is
understood how to use a credit card safely then the user will quickly adapt to
the requirements. Careful usage and adherence to precautions can help the
credit card user to have a safe and useful experience. After all, the credit
card is a handy payment tool for purchases made in a shopping mall or an online
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