Prevent your Credit Card from Unauthorised use

Credit cards are widely used to make online and offline purchases due to their convenience and ease of use. However, the risk of unauthorised transactions and credit card fraud has also increased with the increasing use of credit cards. Thus, it is important to follow some security tips while using a credit card.

Safety tips while using a credit card

• The first and foremost security tip is to keep the credit card safe and secure. It is important to keep the credit card details confidential.
• Another important security tip is only to use credit cards on trusted and secure websites. When making purchases online, always check for the "https" in the website's URL, which indicates that the website is secure and uses encryption to protect the data shared during the transaction.
• It is also important to regularly monitor credit card statements and keep track of all transactions. If any unauthorised transactions are noticed, they should be reported to the credit card issuer immediately.
• In addition to monitoring credit card statements, it is advisable to set up alerts for all credit card transactions. This will enable the cardholder to receive notifications for all transactions made on the credit card, thereby ensuring that any unauthorised transaction is identified and reported promptly.
• Using a credit card to withdraw cash should be avoided as much as possible, as it exposes the card to theft and unauthorised transactions. If it is necessary to withdraw cash, it is advisable to do so from an ATM in a well-lit and populated area.
• If the credit card is lost or stolen, it is important to report it immediately to the credit card issuer. The issuer can then block the card and prevent any further unauthorised transactions.

Dealing with unauthorised transactions

• If one becomes a victim of credit card fraud or notices an unauthorised transaction, it is essential to report it immediately to the credit card issuer. Most credit card companies have a dedicated customer service number that one can call to report such incidents.
• One should provide as much information as possible about the unauthorised transaction, including the date, time, and amount.
• Once the credit card issuer is informed, they will investigate the matter and take appropriate action. The credit card issuer may block the card temporarily or issue a new card with a different number. They may also refund the disputed amount and take steps to prevent similar incidents.

Conclusion

In conclusion, credit cards are a convenient mode of payment, but it is important to take necessary precautions to ensure their safety and security. Following security tips and promptly reporting unauthorised transactions can help prevent credit card fraud and protect the cardholder's money.