Use Your Credit Card Wisely! #Finances #Expense #Precautions

Nowadays, Credit Card is widely used for marketing of groceries to precious jewelry. People find it convenient to carry and use and it gives freedom of 50 days to use without paying an extra penny for the use within the stipulated time as decided by the banks.

While using the credit card, we need to be vigilant while using as misuse of it can cost dearly.

We know of the advantages of using the Credit card but we should also keep a watch not to delve the details of card or use it at secured sites to save us from fraudulent transactions and cybercriminals.

Every now and then, we come across news of credit card fraudulent transactions and people money been siphoned but we don’t pay much heed to it and continue our transactions in our own way.

Recently, one of my close associates was duped and this news shuddered me inside out and I became extra careful while using it.

Here are some precautions that we need to follow to keep ourselves away from hackers and online frauds.

• Never ever share your card details with anyone: However, close your friend, family or associate is, never ever share card details with them. A credit card is an individual property and you are the sole owner because, for each and every transaction done on the card, liability is of the cardholder in which name card is issued. At times, the smart cybercriminals pose as bankers and insist to share the details. Don’t be fooled rather complain if ever someone tries to act over smart.
• Sign at the back of the card: As soon as you receive the card, sign behind on the strip and store at a safe place and within your reach.
• Don’t keep the Pin and Card together. It’s better if you memorize the Pin rather than writing down but still if you aren’t sure of your memory power, jot down separately. If ever someone comes across, they won’t be able to harm you in any way.
• Never reply an email which requests to disclose your personal, bank & card details. The emails asking for personal details are phishing emails. Don’t fall prey to them.
• Update anti-virus software on your system & mobile so that your system or mobile is protected from cyber-attack.
• Be regular in changing the password and Pin of the card at regular intervals and avoid storing passwords in system or mobile. It may fetch trouble if someone gets hold of your system or mobile.
• Avoid entering card details on unsecured websites. The websites whose URL does not have “https” are unsecured sites and can be prone to cybercrimes. Take utmost care while shopping online. Even avoid punching card at unknown outlets, there are chances of misuse or cloning of card.
• Inform Bank immediately if your card is lost, stolen or misplaced. There might be chances of unwanted transactions if someone gets hold of your card so without losing time, inform your Bank and get the card locked. If you change your mailing address, keep your Bank informed.
• Set Sms & Email alerts for the transactions of your card. This facility will save you from getting duped and save you from unwanted transactions and well help you to be updated of the ongoing transactions on your card.
• Cross check the Bills of the Credit card: Make it a habit to cross check the Bills of the Credit Card and inform Bank immediately in case of any discrepancy.