Easy Tips for Credit Card Safety

Posted by Nisha Scott on January 14th, 2022

Owning a credit card is very common these days. With just a swipe, you have the freedom to purchase anything, right from using it at groceries stores to shopping for any expensive gadget. It is convenient; however, you need to still be cautious as there are people waiting to misuse your card the moment you think it is safe. During the pandemic, when the online payments through UPI, credit or debit cards took surge, a lot of credit card fraud cases was heard. There have been instances where some people have got a call from fake credit card companies asking for their personal information and misusing the credit card. Credit card safety is one of the things you need to keep in mind. So, here are some of the credit card safety tips to keep your account secure:

1. Practice Safety from Day One:

You need to ensure the security of credit cards right from day one. Once your card is delivered, sign at the back of the card right away. This safeguards your card even if it lands on someone else\'s hands. When you are setting passwords for your credit card account, make sure it is unique that cannot be easily hacked by online cyberbullies. Similarly, choose a PIN that is not repeated or used often.

2. Use Secured Network Access:

When you are using an online browser to check credit card statements or access any card related information, ensure that it is a secured network. Even when you are doing online shopping, it is advisable to shop on reputable websites and avoid open Wi-Fi access. Public networks can make your credit vulnerable to online cyber-attacks.

3. Create Unique Passwords:

Ensure that passwords for online card profiles are strong and unique. Creating complex credentials prevents hackers from accessing your account.

4. Avoid Sharing of PIN:

Banks always urge the customer to not share credit card PINs and OTPs with anyone. There are instances where you may receive a call from a person claiming to be a bank representative. If you have a tendency to save PINs on your mobile phone, it can be misused when your phone is stolen.

5. Keep A Check On Monthly Statements:

Whenever you transact using a credit card, you receive SMS alerts and mail notifications. This helps you keep track of transactions. Apart from this, it is essential to keep a check on monthly statements issued by banks to avoid any suspicious activity through your card.

6. Report Loss Or Theft Of Card:

If you lose or your card gets misplaced, you need to immediately inform the credit card issuer about the incident. The bank will block the card so that it is not misused by any other person for fraudulent transactions. It is critical to act promptly when your card is stolen or lost.

These tips may seem simple, at the same time, they are effective in reducing the risk associated with carelessly using the card.