Currently, credit card is a popular bank product, because it allows its owner to use both their own and credit funds to purchasefor shopping for any goods or services in everyday life. At the same time, credit cards bring a lot of benefits, and most important – a constant income to issuing banks, as a result, such institutions actively offer them to their clients, providing an opportunity to get a credit card to almost everyone.
Credit cards deserve their popularity because their usage is not only more convenient but also much safer than cash. Nevertheless, there is always a number of certain high risks that either professional frauders or just a third person would gain an unauthorized access to your credit card, and also use the available balance on it. That is why in order avoid becoming a victim of people who do not mind using other people’s property, one should always observe extreme caution when using a credit card in everyday life.
How to use credit card safely?
Undoubtedly, today, credit cards have become quite widespread. As a result, a lot of scammers specialized in “hunting” for the other people’s credit cards and their data, have appeared. Such criminals use many ways to obtain what they want, like visual observation, pickpocketing, using multiple technical means, etc. Moreover, you should not exclude the possibility that your credit card may simply be lost, and it can be found by the other man who would not return it to the bank, as every good citizen should do, but would try to use your money.
Therefore, if you’re already an owner of a bank credit card or you’re just planning to order a credit card in a credible bank then in order to avoid any troubles with the use of this banking product, keep in mind the following recommendations:
1. Never share any information that directly relates to your credit card to the third parties, and also try not to hand a credit card to someone else, especially including those cases when it is not about using it for intended purpose.
2. Do not store information about your credit card PIN near it, for example on a piece of paper in your wallet, and do not indicate this important security code on the card. For such purposes, it would be better to use your own memory or make “reminder” that is understandable only to you.
3. Always enter PIN code personally, trying to hide this process from the people’s eyes around you. Watch out for the people who show an obvious interest in your actions with credit card.
4. Develop a habit of checking the ATM’s keypad and card reader prior to every withdraw for the presence of extraneous elements and devices by which scammers can obtain the data they need for stealing your money. In case of detection of such “upgrades” you should immediately report to the bank and law agencies.
5. Nowadays banks offer clients to access a special SMS notification service that would inform about all transactions to everyone who is going to get a credit card. Do not refuse this service, because it would allow you to take the quick action if your credit card is used for an operation that is not authorized by you.
6. Set a small daily limit on the use of funds, as this can minimize your losses, that you may incur as a result of fraudulent activities. If you need to increase this limit for the one-time major purchase, you can always do it by contacting the branch office of the bank via a phone call.
7. If you are just going to get a credit card, ask the bank if it provides an EMV credit card, which is safer from the all sides for objective reasons. And if you already have a credit card which data is stored in the magnetic strip, then contact the bank for a correspondent replacement.
What if the credit card was stolen or lost?
Unfortunately, credit cards owners frequently get in situation when their credit card was stolen or lost. In such cases, in order to prevent a possible loss of the funds available on the credit card, it should be immediately blocked, and this can usually be done in several ways:
– personal request to the issuing bank;
– contacting the bank via a phone call;
– sending a special SMS message.
After that, the lost credit card will be blocked, that excludes its usage by unauthorized persons, though you will have to visit the nearest branch office of issuing bank to reissue the credit card. All you will need is to show your passport, and the procedure of reissuing will not take much time. By the way, after receiving a new credit card your blocked card will cease to be valid, therefore, even if you find a loss, you won’t be able to use such a card.
As a result, issuing a card is just a halfway through, as if you want this bank product to serve you well and no problems to occur with the process of using a credit card, you should use some caution. In addition, we recommend you to always remember the rules of safe usage of credit cards presented in this material, because they may help you to avoid any card security issues.