How to Keep Your Credit Card Details Safe
It is no longer news that the era of standing on long queues in banks before withdrawing money has ended. By simply slotting in your credit card into an ATM, you can withdraw money easily and you need not worry about being cash strapped – ATMs are now within a walking distance. Yet, this technology with its numerous advantages is not without its shortcoming. The advent of ATM and credit card has led to an exponential increase if fraud. It is therefore not surprising to hear tales of money being debited from people’s account despite not releasing their credit card PIN to anyone.
To protect you, this article discusses in detail 10 smart ways to keep your credit card details safely.
- Keep your password secret and secure
This advice is obvious but it is surprising how many people are vulnerable. The importance of this cannot be over emphasized. Keep your card private. Do not release your card information to anyone through a phone call or via email. Also, avoid using family names or birthdays as password, it is a very bad idea and such passwords are easy to guess. Ensure you change password periodically and use a different password for your different accounts. For example, you should have a different password for your current account and a different one for your savings account. Lastly, in creating a password ensure you use both numbers and letters.
- Always report lost or stolen card and suspected fraud right away
If you lose your credit card or you are suspicious of a fraudulent act, do not hesitate to contact your bank so that the card can be blocked right away. Act fast! Speed is of utmost importance and every second counts. In such situation, we can act to protect your account and information.
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- Sign at the back of your card
This is another tip or trick people pay less attention to. Some stores will compare the signature on the back to the signature used to sign the receipt. This makes it really hard for thieves and fraudsters to forge.
- Be vigilant when performing online transactions
Ever heard of the phrase, “buyers beware?”. The advent of credit card has facilitated avenues for online transactions such as shopping and others, it has also seen an increase in internet fraudsters. While trying to shop online, shop at established businesses. Make purchases only through secure, encrypted connections. Look for sites with https: in their web address. The “s” stands for secure. Also, do not carelessly leave your information online
- Be mindful of your credit card whenever you use it for a one-on-one transaction
Whether you are at a restaurant, bar or in a club, in paying for the service, ensure you give your card to the staff at the register. Always ensure you get your card back and you place right into your purse or wallet.
- Be careful with your receipt
Where you make purchases and receipts are issued, always remember to shred any receipt that has your entire credit card number on them to prevent it from landing in the hands of fraudsters
- Ensure your devices are up to the task
As stated earlier, you must be vigilant when performing online transaction. A step to take in before performing online transaction is ensuring that your devices are up to the task. Install an up to date anti-virus and fire wall. Also, use free security software and apps designed by your bank.
- Be careful of suspicious ATMs
This sounds a little surprising right? Yes! there are suspicious ATMs. If you feel something looks off about the ATM you are about to use then don’t use it, where you notice that cameras are placed not for the safety of the users who are placed close to the keypad or card slot. Then you should refrain from using such. You can take a further step by reporting this anomaly to the bank.
- Always Log out
Even after making purchases through secure connections, never forget to log out. This might sound too obvious and might appear to people as inconsequential but you would be surprised to know the number of people who often forget to log out on a regular basis. There are a number of risks associated with your failing to log out. Your device could be hacked or stolen. Where you log out, your payment system or online transactions will not be accessible
- Consistently monitor your account
Lastly, ensure you consistently keep tabs on your account activity. You can do this online or through USSD codes on phones. The essence of this is to make sure that there has been no foul play on your account.
Technology has created a new era of vulnerability. Therefore, you must ensure maximum security of your financial activities by ensuring the security of your card details and it begins by following these tips.