Credit Cards: Playing It Safe

Posted by Nick Niesen on October 29th, 2010

When it comes to credit cards, far more risk can be out there other than debt you are not able to afford or an accumulation of expenses that you were not fully aware of prior to entering into the contract. With credit cards, risks exist that are entirely out of the hands of consumers, and these risks can be reduced by prudent and careful actions. But, what can you do with your credit card to ensure that you are far less likely to be a statistic, and far more likely to be a happy credit card user, with no problems, and less concerns.

Take Care of your credit card to ensure that you know where it is at all time, whilst making sure that you don?t leave it unattended.

Have multiple cards? If you have multiple cards then issuers will sometimes allow you to register all these together, meaning that you can cancel your cards with only one telephone call. This will mean less chance of fraud, through giving a thief less time.

Lost your purse or wallet? If you have lost your purse or wallet you literally have no time to spare. Get on the phone to your credit card company immediately even if you are unsure if your card has been lost through theft or you merely misplacing it.

Keep Notes of all your credit card transactions, and then you can be sure that you have been, or have not been, a victim of credit card theft. Be sure to report any unusual transactions, and remember that, unless you give permission, no company can withdraw money from your credit card even if payment is late.

Keep your PIN number private by trying to remember it. Clever ways of noting this secretly include listing it amongst other telephone numbers and perhaps placing it at the end of standard digits. For example: Mr. Example +56 786 78656556.

What do credit card Issuers do to protect you?
1. They will insure you against misuse, loss and theft.
2. They insure your purchase for as much as 100 days.
3. They will provide a refund in the case that you are unhappy with what you buy.

Credit card fraud, thefts and mishaps are something that nobody wants to experience, however through careful planning and consideration these risks can be reduced dramatically, ensuring that you are less likely to get into trouble, than those who are less prudent and more care free. To date, the credit card industry has been sensible enough to incur expenses association with credit card theft and fraud on behalf of their customers, whilst this continues customers can be safer, knowing they are less likely to suffer as a result.