Although it is not easy for someone to guess the right credit card number or PIN as there can be infinite permutations & combinations. Still, the activities like credit card fraud, identity theft are increasing day by day. Ever thought about how? It is because the cardholders unknowingly miss out at some points to keep their card safe and secure. Keeping this thing in mind, we are here with this article to help you out with some credit card safety tips to prevent any fraudulent activities or misuse of your precious financial tool.
1. Don’t Share Any Confidential Information Ever
Confidential information, such as OTP, CVV, Credit Card number, Credit Card, PIN, Expiry date, Internet banking password, etc, should never be shared with anyone; not even with your close ones. Even if someone pretends to be from the bank and asking for this kind of details, never do the mistake of sharing it with them. Banks or card issuers don’t ask you to share such information, not even in the worst case. These things are meant to be used only and strictly by the particular account holder or the cardholder.
2. Beware of Fake Calls
You may receive some calls in which they offer you some coupons, lotteries, reward points, jobs, etc, and ask for some personal/confidential information like OTP. As stated in the previous point, never provide any details related to your bank or credit card. If you do so, your card can be misused and you can be left with high debt. Moreover, if you suspect any fraudulent activity with your card, report it immediately to your bank and get your card blocked then and there.
3. Don’t Share Sensitive Financial Information On Social Media
If you receive an email or message on social media that seek any sensitive financial information, just ignore that or you can even block it. Moreover, never share any information related to your bank on your social media handles, not even by mistake. For example, if you are uploading any pictures or videos, make sure that your credit card and its information are not visible in that post.
4. Make Sure That Your Credit Card is Always Used in Your Presence
You might have trusted many people blindly, it is never advisable to do that in the case of credit cards. You should never hand over your credit card to someone else even for a few seconds. However, if you give it to someone in an emergency case or something like that, make sure that you are present there when the card is being used. It is better to be aware than to be left with debt for which you are not even responsible.
5. Review Transaction Alerts on Messages/Emails
It is really essential to review the transactions messages you receive on SMS or Email in order to ensure that no fraudulent transactions are being done. It will also help you to keep track of your spends and hence you can compare these messages with your billing statement. If you are receiving a message or email for a transaction that you never did, report it immediately to your credit card customers care.
6. Change Your Passwords & PIN Regularly
Many people write their banking passwords, PIN, CVV, etc in a notepad or notes on their phones to store them. But, it is not at all advisable to do so. You should never write your passwords or any such confidential information anywhere. In fact, you need to keep changing your password/PIN at regular intervals in order to ensure that anyone who is close to you can not guess it. Moreover, keep in mind that all your banking passwords and PINs are not the same. Try to keep each of them different if you really want to secure your account from fraudulent activities.
7. Enable International Usage Only If You Need It
Credit cards allow you to enable/disable various types of transactions, including international usage, through internet banking. If you need to make international transactions very often, there is no harm in enabling the option but being aware is always necessary. However, it is not a good idea to enable international usage even if you don’t really need it.
8. Always Keep Your Latest Contact Information Updated With the Bank
Make sure that the mobile number and email id on your internet banking profile are active and you are using it. If you have changed your number/Email and no more using the previous one, update it in your internet banking profile as well so that you can receive messages about your transactions and important information about your account. If you are using a different number that is not updated with the bank, you will never know about any fraudulent activities made on your card as you will not receive any message regarding your transactions.
9. Check Authenticity of Calls/SMS/Links you Receive
Before clicking on any download links, KYC links, etc, check how authentic these messages/links are. Some people just try to get your personal banking details by sending such links. If you are receiving any such links that you never asked for, there are high chances that someone is trying to get some confidential information. So, you should never click on any link or reply to any SMS that seems to be suspicious and is from an unknown source.
10. Always Pick Up The Verification Call From Your Bank
Whenever your bank will notice a suspicious transaction from your account, they would call you to verify whether it is done by you or not. It is a great security step taken by almost all the financial institutions as they are also taking care of your account. You should note/save the centralized credit card transaction monitoring number of your bank so that you can always pick up the call and be updated about such transactions.
Being aware of these credit card safety tips is highly important in order to reduce credit card-related fraud. Having a credit card and setting up passwords is not all you need to do. You must take every single financial step very carefully. Be it online/offline transactions, make sure that you are always keeping all the above points in mind. Also, if you have any doubt regarding the information given above, make sure to write it in the comment section below. We will definitely be happy to help you!