Know these seven credit card tips for a financially rewarding life.
Credit cards come in handy when you need extra funds. Users can use the card to purchase almost anything from groceries, gas, household items, etc.
It is also useful when buying big-ticket items such as appliances, health care insurance, or even your travel expenses for plane tickets and hotel accommodation.
But owning a credit card entails responsibilities. Hackers and online fraudsters are rampant now.
Cybercriminals are just waiting for the right timing to grab your personal information, such as your bank card details, so they can milk whatever funds you have in your bank cards.
Fortunately, there are ways to protect yourself and your personal information from getting into the hands of these evils. Here are seven ways that you should know to avoid becoming a victim.
1. Sign your credit card as soon as you receive it.
Ensure you affix your signature the minute you receive your credit card to avoid someone signing and using it to make in-store purchases.
Chop up old credit cards, especially the portion wherein the magnetic stripe and chip are located.
2. Do not share your card with your friends or family members.
Never give out your cards to anybody, even to your family members. You won’t know what they will do with your card and will end up paying huge bills for purchases you do not make.
3. Keep your credit card in a safe place to prevent it from getting stolen.
Store your cards in a secure wallet or purse. After making a purchase, immediately return your card to that place.
4. Keep an eye on your card and the person handling it when using it in stores and services.
Criminals are crafty, and your credit card details can be stolen in multiple ways. Don’t let your card goes out of your sight. You won’t know if it’s being tampered with.
5. Do not save your credit card details on public or shared devices.
Do not use wifi for online transactions. Using a data connection at home is much safer because not many people use it daily.
6. Keep your Card Verification Value (CCV) and One-time Password OTP confidential.
The CCV and OTP are your signatures when using your card or withdrawing money. Giving this information to fraudsters would provide them with access to your card. Never share this with anyone, including those pretending to be bank personnel.
7. Enable your mobile banking notifications. Keep track of your transaction and immediately inform your bank if you notice anything unusual.
Make it a habit to look through your monthly statement to check for suspicious transactions.
Don’t become a victim of credit card fraud. Knowing the seven tips will most likely thwart any attempt to defraud you. Consider the financial and emotional damage you will experience should you be involved in credit card fraud.
Using your credit card responsibly and enjoying its many rewards is practical.