Using a credit card is safer than carrying cash for your purchases. With increased cases of fraud on credit cards, it is advisable to be cautious while using the credit card. Some of the measures you can take to exercise precaution include the following:
Keep your credit card information private.
- The card number and the PIN should not be disclosed to anybody. Memorize the PIN; if you have to write it down, ensure it is not on the card, your wallet, or other identification documents. Do not keep the PIN information together with your credit card. If your card gets stolen and your PIN can be accessed, your account can be easily tampered with.
- If someone calls you and claims to be from your bank and wants your card’s information, do not disclose it; instead, call your bank for clarification. Thieves steal from unsuspecting people by asking for personal information about the bank accounts that they use to withdraw money from these accounts. You should always ignore emails asking you about your card details regardless of how official they look. Always conduct your bank before disclosing any information on your bank account(s) to anyone.
- Always watch who may be peeping on you while using your card. Someone can try to obtain this information for fraudulent acts on your account. Ensure that no other person knows your online access codes, as this increases the security of your funds.
Have a backup for your credit card.
- When you collect your card from your company, it is advisable to record the bank’s contact details for use in case of a problem with your card.
- Keep a proper record of your card transactions, as this can help identify any malpractice on your account early enough to avoid many losses.
- Record your card details on a separate piece of paper and keep it away from your card. You can use this information to contact your bank if you lose your card or the ATM eats the card.
- If you lose your credit card, you should report to your company within the shortest time possible. The company will stop any transaction on that card until the problem has been solved and the client has their credit card.
Update your credit card company when you are traveling to new places.
- The company can adequately advise you on charges that apply to foreign currency purchases while traveling to a new place, such as conversion fees. Record your card charges for proper planning while on a journey.
- Companies monitor the client’s accounts, and a big purchase may be denied in a new place if the company does not have prior knowledge of your being in that country. To avoid such embarrassment, constantly contact your company before traveling.