Credit cards And Identity Theft Protection

Credit cards have occupied a significant place in our lives. Credit cards have become a necessity for every person. When 2-3 credit cards and cash cards are in pocket, and we are away from home, they are very useful. Whenever some emergency cash need arises, we can handle the situation. But with the power of credit card, comes responsibility. Money withdrawn from ATM needs to be paid back within time or to avoid heavy interest rates.

We need to be very alert and cautious while handling credit cards. Before starting use of credit cards, information relating to terms fees and charges, interest rate, cash limits etc is to be understood thoroughly.

Benefits

In many cases there is 100% cash limit and ATMs can be accessed from hundreds of visa/master/plus ATMs spread all over the country. They can be used at hundreds of merchant outlets. Free insurance is provided in many cases and flexibility of payment is already available.

Credit Card Safety Tips

Sign on the reverse of the credit card with dark ink to avoid misuse.

Credit card should not be handed over to any other person, under any circumstances; howsoever close he or she may be.

While making online transaction, it should be ensured that the merchant with which you are dealing has a secure payment system. This is will protect your identify and credit card number.

In case of loss or identity theft, matter should be reported without loss of time to the card issuing authority and at the helpline phone provided to cardholder to avoid fraudulent withdrawals.

Personal Identification Number (PIN) should not be disclosed under any circumstances. Sometimes people write their PIN number on the card, which is a dangerous practice.

In case when you have reasonable belief that your PIN has been leaked, immediate steps should be taken to report to Credit Card Company and new PIN should be got issued.

Credit Card and PIN number should not ever be kept together.

These are simple tips but can go a long way in inculcating the habit of keeping and using the credit cards with responsibility.