Precautions against Credit Card Fraud

Credit card information is privy and prone to theft : It is your responsibility to keep your Credit Card safe from miscreants who may illegally use it and make you pay the price for the same. Take note of the following :-

Avoid giving out credit card information: Credit card thieves are known to pose as credit card issuers to trick you into giving your credit card number. Give your credit card details only on the calls initiated by you to the customer service number and do not submit your credit card number through email. In fact, most banks explicitly state that they will never approach you for such information through email.
To prevent anyone from getting their hands on your credit card number, make sure that all documents carrying your credit card number are destroyed, old credit cards which have expired should also be destroyed.

Report lost/stolen cards immediately. Make sure you always you’re credit card number handy and also the customer services number of the company so that you can immediately inform them of a missing card.

Review your bills on a monthly basis: The easiest way of determining any credit card fraud on your card is by spotting any unauthorized transaction. If you notice a charge that does not belong to you, report it to the credit card issuer on an immediate basis to get the proper guidance.
Sign on the card : The moment you receive your card, make sure you put your signature on it and start using it without creating any suspicion while transacting with various merchants.

Keep your PIN secure: Make sure you do not write the PIN on your card or you do not keep it accessible anywhere in your wallet. In a scenario your wallet being pick pocketed, both your card number and pin number will be available and cash can easily be withdrawn on the credit card.
Be careful of your CVV number : The CVV number can be used for online transactions. So anybody knowing your card number and your CVV number, can do online transactions (purchase of air tickets, equipments etc). Therefore, do not give a photocopy of both sides of your credit card to anyone. Also make sure that the websites on which your transacting online is safe and secure.

Source : BankBazaar[dot]com

Back To Previous Page | Page last updated date: 16-08-2017