Protect Your Credit Card: What You Should and Not Do

What is better than cash? A stolen credit card is the answer. The situation worsens since the introduction of online shopping.

As such, it’s wise to be proactive in preventing such a thing from happening to you. Furthermore, the responsibility always lies with credit cardholders to safeguard their credit cards.

Here is a list of important Dos and Don’ts to safeguard your credit card.

DO…

-Always treat your cards like cash.

-Keep your card number confidential.

-Sign up for your new cards as soon as they arrive and cut up the old cards when they expire.

-Sign your credit card in permanent ink as soon as you receive it.

-When making a purchase, ensure that the salesperson processes your transaction in your presence.

-Check your card when it is returned to you by the cashier to ensure that it is yours and that it has not been tampered with in any way.

-Total your charge slip before signing in, as blank spaces serve as an invitation for unscrupulous individuals to ass additional amounts.

-Always retain your receipts so that you can check them against your statement.

-If unfamiliar transactions are posted on your statement, inform your card issuer straight away.

-Keep your statements in a safe place – they contain sensitive information.

-Before discarding old statements, even of closed accounts, shred them into small pieces.

-Inform the card issuer when you are traveling overseas.

-Notify card issuer of any change of address, so new cards/statements are not sent to the old mailing address.

-Should your card be stolen or is lost, inform the card issuer immediately. Always keep the card issuer’s contact number at hand.

-Only provide your SSN(Social Security Number) and credit card information to parties with whom you have initiated the call.

DON’T…

-Never allow anyone else to use your card. It is yours and yours alone.

-Never write your personal identification number(PIN) on your credit card.

-That way you can avoid any unauthorized cash withdrawals from the automated teller machine(ATM)

-Do not give any credit card information to individuals soliciting sales over the phone.

-If you receive calls from a party claiming to be your card issuer and the caller requests for your account number, do not give it. If the call is from your card issuer, the caller would know your account number.

-Do not sign a blank charge slip, draw a line through the lines above the total amount, and destroy any carbon and canceled receipts immediately.

-Do not leave expired cards lying around.

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