Safety Measures for using credit card

Credit card usage has become the preferred mode of payment for online and offline purchases such as petrol, retail shopping, electricity and telephone bill … etc. With rise in number of credit card users and increasing usage of credit card, the credit card fraud and misuse have also gone up. It is crucial to take some precautions when using credit card.

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  Make online transactions only on secure, well established and reputed websites. Always ensure that the address of the website where transactions to be done, starts with ‘https://’ and not ‘http://’. Also see a padlock icon at the top/bottom of the browser.
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  Always perform online financial transactions from a secure computer system updated with latest security updates/patches, anti-virus and anti-spyware software and personal firewall.
• Change your card PIN (Personal Identification Number) periodically
• Do not disclose any personal information online like your date of birth, billing address, etc., on the Internet because that can be misused in order to unlock your account password.
• Do not send credit card and account details through e-mail to prevent from malicious use by others
• Never share card details over the phone or with anyone in person as it is easier way for others to get access to your credit card confidential information and make the online transactions
• Avoid using cyber cafes for Internet Banking purpose
• Check your monthly credit card billing statements regularly to review any unauthorised transaction in the statement
• Notify the card company in case of any discrepancy in the monthly statement
• Never leave your card unattended
• Keep credit card help line phone numbers with you for any kind of assistance

Safety Measures for using credit card

There are some recommendations as given below for credit card users to safely make the transactions.

1. Sign the Credit Card

Sign on the back of your new credit card as soon as it is received from the credit card issuing institution/organisation

2. Keep an eye on the credit card during the transactions

When making transactions offline, keep an eye on the credit card during the transaction and get your credit card back as quickly as possible because multiple debits can be made from your card by swiping the card more than once and your card details can be noted down to make online transactions.

3. Keep a record of transactions

Keep all receipts to verify the transactions until you get the credit card statement.

4. Make transactions on established and reputed sites

While making online transactions with credit card, user must only use card at established and reputed sites as there are less chances of credit card fraud on a reliable website. Always ensure that the address of the website where transactions to be done, starts with ‘https://’ and not ‘http://’. Also see a padlock icon at the bottom of the browser.

5. Change PIN periodically

User must change PIN (personal identification number) as soon as it is received from the credit card company. It is also recommended to change the PIN at frequent intervals of time period as this minimises the chance of any fake transactions being done though your card.

6. Do not disclose personal information online

Do not share any personal information like your date of birth, billing address, etc., on the Internet because that can be misused in order to unlock your account password.

7. Don not e-mail credit card and account details

Do not send credit card or account details through e-mail to anybody, or in response to any e-mail as it can be maliciously used by cyber criminals.

8. Never share card details over the phone

User should not share credit card details and account information on the phone as well as with anyone in personal meeting, as it is an easier way for others to get access to confidential information. This would pave the way for credit card fraud

9. Avoid using cyber cafes for Internet banking purpose

Avoid using the Internet banking facility from cyber cafes, libraries or from computer systems installed in public places. But in case it is an absolute necessity, you must clear the browser cache and delete the temporary files on the PC you’ve accessed the Internet from.

10. Regularly check your monthly credit card billing statements:

Users must check their credit card monthly statements carefully to review any unauthorised purchases in the statement and they must inform the credit card issuing agency in case of a discrepancy.

11. Notify the card company in case of a change in personal details

You must notify the credit card companies in advance in case of a change in billing address or any other details.

12. Never lend credit card to anyone

Never lend your credit card to anyone as it is an invitation for credit card fraud.

13. Never leave your card unattended

Users must not leave their card unattended at other place.

14. Take immediate action in case of loss or theft of credit card

If you lose your credit card, it is necessary to inform the credit card company immediately. This will enable the card issuer to freeze the card with immediate effect and prevent any purchases being made with it.

15. Keep credit card help line phone numbers

Keep your credit card help line numbers with you. This will help in informing the card company immediately in case of a loss or theft of the card.

With these precautions, credit card users can minimise the risk and save them from hazards caused by the misuse of the credit card.