How to ensure financial safety while using credit card
If you love keeping up with the happenings in the country through newspapers, TV channels, or online articles, you might now come across cases of credit card frauds on a regular basis. The frauds are now so rampant that the fear often discourages many people from using credit cards for their offline or online transactions.
However, just by being a little more vigilant you can easily avoid the majority of the common types of frauds. Here are a few steps to help you use your credit card with confidence-
1. Use trusted Wi-Fi network and computer for online transactions
Even a secured credit card when used on public Wi-Fi connections or computers can open you up to a host of frauds. Public internet connections and computers are not secure, and by using them for online transactions, there is a considerable risk of getting personal or card information stolen. If you do need to use an internet connection at a public place, try and use your mobile network rather than an untrusted network.
Not just this, you should also have a working anti-virus installed on your computer to prevent virus attacks that can lead to credit card frauds.
2. Use credit card only on reliable websites
Online shopping is full of convenience. However, be cautious when using your credit card for shopping online. Make sure that you always buy from reliable online portals.
Avoid clicking on any links that you receive in unsolicited emails as most of them are just scams that often look pretty much similar to the real deal. Rather than following a link, prefer typing the website URL in the browser and ensure that the website you are visiting has an "https" prefix.
3. Get the card swiped in your presence
Talking about offline stores, ensure that you always get your credit card swiped in your presence. Before leaving the store, you should also check your credit card as it is possible that your card might have been intentionally or unintentionally replaced with a similar looking card.
Always use cards such as a Visa secured credit card and prefer using them at reliable offline stores to avoid any fraud.
4. Opt for the credit protection plan
You are protected against any fraudulent transaction on your lost credit card as long as you report within three days of the purchase. However, in case you report it after that, you are liable for the transaction as per the RBI rules. A credit protection plan enables you to stay protected even if you report it after the 3-day period. Moreover, it comes with added advantages such as travel assistance and other benefits.
5. Regularly change your PIN
Many people get a MasterCard or Visa secure card for enhanced safety but make the mistake of not changing their PIN on a regular basis. Try to change the PIN every couple of months to reduce the possibility of misuse.
Also when selecting the PIN make sure that you do not pick something that is very easy to guess like your birth date or anniversary. Do not write down the PIN anywhere and never share it with anyone.
Using a credit card responsibly and with utmost safety
As you can see just by following a few easy steps you can keep your credit card safe and your transactions secure. No matter if you have been using a credit card for a long time or have got one recently, use the tips discussed above to ensure enhanced safety and protect yourself from frauds and misuse.
The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.
Scroll to top