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20 Tips to protect your credit card from misuse

Date: Sat, 11/05/2005 - 16:44

Submitted by roxette
on Sat, 11/05/2005 - 16:44

Posts: 4009 Credits: [Donate]

Total Replies: 6


Use these tips to protect yourself from credit card frauds
[list=1]
  • Keep a watch on your credit card when it is used by the merchant. Try not to let your credit card go out of your sight.

  • Do not give your credit card details over the phone to someone who does not have an authorized identity. Besides, companies doing legitimate business will never ask for your personal information over the phone.

  • Do not respond to the mails that ask for your credit card information. Some mails redirect you to a website to verify the personal and credit card information. This should never be done. This is one way of taking information from you and it is termed as ‘phishing' scams.

  • Never put your details on a website that is not secure. Secure sites are symbolized with a lock symbol appearing at the status bar and have the authorized logos.

  • Put your signature on the credit card as soon as your receive it.

  • Shred all the applications of credit cards. These have your personal information and it can be misused by anyone.

  • Don't write your PIN number on the credit card.

  • Credit card receipts should also be kept in safe place.

  • Put your card in the cover so that the number is not in an open view. Besides it will ensure long life of the magnetic strip in the credit card too.

  • Keep a list of all your credit card account number along with the expiration dates. Maintain a record of the names and addresses of the credit card companies also. Keep this record always updated and in safe place.

  • Do not carry each and every card in your wallet. If by chance, the wallet is lost or stolen, all the cards will be open for possible misuse. Carry only those cards at a time which are generally required.

  • Review your statement thoroughly. Keep a track of it so that you are aware of your monthly expenses.

  • Report the charges that you don't recognize to the credit card company immediately. Notify them in writing. If you keep a thorough check each time, you will save the unnecessary charges from adding up and also claiming responsibility for it.

  • Destroy the incorrect receipts.

  • Destroy any document having your card number that will not be of any use in the future.

  • Never sign a blank receipt.

  • These days carbons are not used, but if some merchants use it, destroy the carbon immediately.

  • Ensure safety to your credit card number. Do not open it up in public places or for show off.

  • Do not give your card to anyone else for making the transaction. A friend can become foe sometimes.

  • If you are changing address, it should be notified to the credit card lender.

    Regards
    Roxette


    • Roxette

    Thank you so much for posting these tips. These will be greatly beneficial to those new with credit cards, as well as those who have had them for awhile.

    Regards-
    Mike

    PS: Something I've also noticed while doing retail, and inquiring why they card isn't signed (which means it isn't valid), the customer will say that they don't sign it, so someone can't copy their signature, or so that the merchant/retailer will ask for their ID. Problem with this is, anyone can sign that card with their signature...if they get ahold of it.


    lrhall41

    Submitted by Teleport on Sun, 11/06/2005 - 12:21

    ( Posts: 1388 | Credits: )


    ttthayden

    Hopefully you have your signature on there as well. If not, then someone could easily sign it, and state..."can't you just check the signature, I don't have my ID with me today."

    It's always better to be safe than sorry.

    Also, another thing that most people don't know, is that you can have you picture put on your credit card. You should check with the financial institution who issued the card. I know BankOne, and Bank of America does it. I know there's more.

    Regards-
    Mike


    lrhall41

    Submitted by Teleport on Sun, 11/06/2005 - 22:17

    ( Posts: 1388 | Credits: )


    Mike,

    The point that you have brought out has some meaning in it. But ultimately, I focus on the point that the card needs to have a valid signature of the holder.

    If a card does not have a signature, the holder will be viewed suspiciously by the merchant and the consequences may be fatal each time. It will be an awkward situation for him.

    A photo credit card is a good solution to it but all the card companies have not offered this facility largely.


    lrhall41

    Submitted by roxette on Mon, 11/07/2005 - 11:38

    ( Posts: 4009 | Credits: )


    I have never, ever had my credit card or debit card refused becase "Ask for I.D." was written on the back of the card.

    It has been my experience that many, many clerks don't even look at the reverse. There have been many times I wasn't even asked for my I.D., but at least I know it is a written request on the back to have my identification checked.

    I don't think much signature checking actually takes place. Several years ago, my vehicle was broken into and my purse stolen. The thieves had no problem writing checks or using credit cards. In fact, on the checks they spelled our last name incorrectly! And NO ONE noticed! That just amazes me! NO ONE noticed! :roll:


    lrhall41

    Submitted by Taquita on Mon, 11/07/2005 - 20:30

    ( Posts: 287 | Credits: )