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    Credit Card Safety Tips

    There is no denying the fact that credit cards offer a huge amount of convenience and financial security. Today’s credit cards are also more advanced than ever, both in terms of features and fraud protection. However, despite all the safety measures being taken by banks, credit card fraud still take place in different ways. Fortunately, you can avoid such fraud by taking some precautionary measures.

    Here are some tips that will definitely help you protect your credit card against fraudulent activities.

    Check your account balance and statement regularly:

    It’s important that you regularly check your credit card statement and verify all the transactions that are recorded in it. If you suspect any unusual transaction, call your credit card provider without any delay.

    Choose your PIN smartly:

    When choosing a PIN for your credit card, never go for numbers that are obvious and easy for anyone to guess. That’s why it’s always best NOT to use your date of birth, wedding anniversary, your phone number, or your address as your PIN.

    Keep your PIN protected:

    It’s always in your best interest to memorise your card PIN, instead of writing it down on your card or on a piece of paper. Additionally, when you are using your card for an online transaction or at an ATM, make sure there is no one around looking over your shoulder, trying to memorise the number.

    Set transaction alerts:

    Always register for transaction alerts, so every time your card is used to purchase something, you will get an alert through SMS or email. These alerts usually come within seconds of making the transaction.

    Signature on the card:

    Whenever you get a new credit card, the first thing you should do is put your signature on the strip at the back.

    Avoid entering your card details on suspicious sites:

    When using your card for making online payments, keep these important things in mind:

    • Make sure the website is genuine and has mentioned the seller’s address and contact details.
    • Beware of sites that request your credit card details in exchange for an offer.
    • Avoid visiting suspicious sites, which usually carry malware. Once the malware enters your phone or system, it gets easier for fraudsters to carry out transactions with your card. Additionally, you should also install latest antivirus on your phone and computer for protection against such attacks.
    • Never enter your card details on a website that is not protected by international security systems. Look for padlock that appears on your screen. When you click on the padlock icon, a security certificate should appear.

    Don’t forget to take your card back after a transaction:

    Whenever you use your card for point of sale transactions, don’t forget to take your card back from the sales representative. Also, make sure the transaction is done in your presence to avoid card cloning.

    Beware of suspicious calls and emails:

    If you ever get a call or email from someone regarding your credit card, never reveal the details of your card. In addition, you should never open attached items in an email you received from an unknown source. Here’s how you can identify fraudulent emails:

    • Such emails often request your card details without specifying a reason.
    • Fraudulent emails often ask the recipient to click on a website link, in an effort to steal the card data. If you see a suspicious link in the email, never open it.
    • Such emails always indicate a sense of emergency. For instance, if you ever see an email which says that your account will be blocked if any particular information is not provided immediately, it could be a fake mail.

    Report your lost or stolen card immediately:

    If your card is lost or stolen, call your bank’s emergency number immediately and have it blocked. Always take the emergency number from the bank’s official website. Contact details available on third party sites could be wrong and you might end up giving all the card details to a fraudster.

    Keep an eye on all your credit cards:

    More the number of credit cards you carry, higher the risk. No matter where you keep your cards, keep checking them regularly. While travelling, don’t leave your cards with the luggage.

    Safely destroy your old cards:

    When you are not using an old card, make sure you destroy it properly to prevent any unauthorised use in future. Use scissors to carefully destroy magnetic stripes and chips.

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