Credit Card Safety-5 Basic Tips

Ultimately keeping you credit card safe is you responsibility. In a worst case scenario, if it can be proven you may have been negligent in keeping your card safe, you may find yourself liable for the cost of all fraudulent transactions made on your account should you have lost it. To help you avoid this, here are 5 basic credit card safety tips.

Never carry more cards than you need

While it is advisable you have more than 1 credit card in case it gets lost, you should never carry more cards than you need to use. The principal reason why this is the case is simple. If you were to lose your wallet, or it was stolen, the fewer cards you have to worry about replacing the better.

Always keep a photocopy of your cards

How many times have you been asked what you card number is only to find yourself looking for it? Now, what happens if you have a card stolen and no credit card statement on hand? You have a problem! It is always best practice to make photocopies of you credit cards. This way you will know where to find the number should anything unfortunate happen to your card. Do not be tempted to take a photo and store it on your phone. If you were to lose your phone, anyone would be able to see your card numbers. Don’t let one bad situation turn in to two!

Always keep your receipts separate

Among the most important of the basic credit card safety tips you’ll receive is never to keep your credit cards and purchase receipts in the same place. Likely as not if you have lost your card, or stolen, then you’ll be missing the receipts as well. Now there is no way for you to vouch which transactions were yours and which where not. There is no easy way to tell which was the last genuine transaction you made.

Moreover, never keep a record of your PIN with your card, this is only asking for trouble!

Never give your account number to someone you don’t know

If you are asked to give your card details to someone you don’t know, either over the phone or by mail/email, refuse. Unless you have initiated the conversation, you run the risk of fraud. Worst come to the worst, phone the card issuer and ask them if it is okay for you to divulge the information or phone the enquirer back. If the enquirer seems reluctant to accept this, you have to ask yourself why!

Never leave your account details open to public viewing

It may sound rather basic to say you should never let ‘Joe Public’ see your credit card account details. Ask yourself this: How easy would it be for someone to see your card as you swipe it at the store? Be protective of your card in public. Don’t let it out of your sight. Always cover your hand as you enter your PIN so no one can see.

Although the above may sound basic and you are already aware, would be surprised to see how many people fail to follow one or all of them!