Get to know the easy way to protect your credit card, and avoid making financial blunders that could cost you a lot more than just your card. Find out some simple tips to be kept in mind always, to help protect your credit card:
# Skim alert
When you are using your credit card at unfamiliar outlets/ websites you need to be doubly aware of who is handling your card. The moment it slips out of your hand, you need to know that it is used precisely for the same purpose as intended by you.
Skimming is the process of acquiring all of the information on your card, by using a simple reading device. The fact that there is no need for the physical use of your card for making a transaction, which is precisely why it is extremely dangerous to let strangers handle your card.
Always be alert of the whereabouts of your card, so that it is not misused.
# Protect your data
Apart from skimming, there is also the chance that your card’s last 4 digits and/or the CVV number ( Card verification value) can easily be noted down from your card. In fact these numbers are sometimes the key to using your card. Always ensure you protect data, that pertains to your personal account in order to ensure its safety.
# Secure browsing
When you are performing online transactions, ensure that the address bar reads https://somesite.com. Also, ensure that the green coloured lock symbol appears on the left most end of your address bar. These are two of the most indicative factors of the security level on any site.
# Additional / Hidden Charges
Every month you receive your credit card bill, take some time off to review it carefully. Because it is not just an ordinary bill, all the charges levied on your card will be clearly stated here. Not all of the charges are necessary, in fact if you look carefully you will come to see that you can easily avoid some of these. No bank will take the effort to inform that some of the charges levied are unnecessary, it is up to us to do our own research and pay only what’s required.
# Stolen cards
Stealing credit cards or the information on it has become a child’s play in the digital era. Whether it is literally stealing your card or skimming for information on it, stolen cards can wreak havoc in our lives in more ways than one.
The moment you realize that your card is stolen, ensure that you call the respective bank or authorities and freeze your card so as to stop any further transactions.
# Identity theft
Another, highly dangerous issue is – stolen identity. There is no end to the number of ways in which one can steal your personal identity, and the extent of damage that can be done with it. Imagine, if someone unauthorized has got hold of your credit card and spends it all away. Obviously, you will not be paying your cards’ bill which in turn is going to affect your cibil score. So, at the end of it all you are going to be on the losing side.
Be very vigilant, every time you use your credit as well as your debit card too.
# Chip based security
In recent times, after the government’s mandate, almost all the electronic cards are embedded with a chip which are used for better security. This ensures proper tracking of your card, even in the event of it being stolen.
Some of these simple steps can save you immense troubles & hassles, and a lot of your time, energy & money as well.
