Credit Card Security Tips

2007-11-06T18:33:00.000-08:00

All of us are concerned about security of our Credit Card during Online or Offline Transaction. Considering the kind of liberal Crerdit Limits given provided these ays by the Banks, one small slip or mistake can make things difficult for us.

Follow the following simple rules to reduce your chances of getting into a trouble on account of your Credit Card.

1. Discard Receipt of your Credit Card NOW

Don't forget to Carefully discard receipts from card transactions and ATMs once you have checked these against your statement. You will appreciate that your credit card receipt often contain all the vital infomation required to perform a fraudulent transaction like your name, the card number, and the expiry date. Even if some receipts have 4 of the card numbers blocked out, another receipt may have 4 different numbers blocked out, so anyone rummaging through your bin could easily put the jigsaw back together and get your whole credit card number. Credit card receipts are a big security issue which should not be taken lightly under any circumstances.

2. Your Card can be Copied TOO.

At places like restaurants and cafés your card security is in question. Kindly try not to let your credit card get out of sight at any moment. Often cards are duplicated whilst the customer isn't looking, as it only takes a few seconds. This credit card duplication is known as 'skimming', and it takes all your credit card details allowing another one to be created to be used at leisure .

3. Lost your Card- INFORM NOW

If your card is lost or stolen notify your credit card provider immediately. Once you have informed them, you are no longer liable for any transactions that occur on your card. The maximum amount you will be liable for is 50 pounds, and if any fraudulent transactions happen whilst the card is 'not present', i.e any postal, telephone, or internet transactions, then you will not be liable for a penny.

4. While travelling keep a SPARE CARD

When travelling abroad, or on holiday try to keep two different credit cards in different places. Perhaps put one credit card secure in the hotel safe, at least then if your wallet is stolen, with one credit card in it, then you will have the other one safely back in the hotel, so you can enjoy your spending without having to worry about receiving a replacement credit card. Of course remember to cancel the cards that you had stolen!

5. Credit Card Usage Abroad
When going on holiday, or planning a very large spending spree it is worth phoning your Credit Card Company and informing them that there will be some 'unusual' spending on your credit card. Otherwise the credit card companies own security measures may flag up some security warnings and bar any transactions from your card. Particularly embarrassing when trying to pay the hotel bill or an expensive dinner bill! and may be at a payment counter specially when you are with your very new Girl Friend.

6. Safe Internet Shopping
Perhaps suprisingly the best way to pay for goods over the internet is with your credit card as the transaction security is safer than handing your card over to a random shop assistant or waiter, and if you encounter any problems with your internet order (e.g. goods not delivered, incorrect amount taken, the company 'disappearing') then it is the credit card company that is liable for all losses. This is not necessarily the case if you pay with things via debit card.

7. Use Credit Card Minders - It really helps
If you have a lot of credit cards in your wallet it may be worth taking out a credit card cancellation scheme. In this scheme you pay a company a small annual fee, and you give them all your important card details (generally credit cards and debit cards). If your cards are stolen then you simply make one phone call to this company and they will sort out cancelling and re-ordering all your cards for you, taking some of the stress out of your credit card theft/loss.

8. Destroy Old Credit Cards

Always destroy credit cards when they expire by cutting them in half through the magnetic strip.

With the above simple yet effective measures, we hope that your life will be more safe an hassle free.

Team Aryan's Product Reviews.