Tip for Today: Protect your plastic (Credit Card, that is)

Credit card frauds are on the rise again here. Since there are inherently bad people there trying to squeeze out our hard earned money, I thought I’d make a comprehensive checklist of do’s and don’ts :

1. Nobody can stress this enough – DON”T TELL ANYONE YOUR PIN NUMBER. If you’re afraid you won’t remember it, write it down and lock it up somewhere, it’s much better than asking somebody else to remember it. DO NOT ever carry your card and PIN no in the same bag around – you lose the bag, you lose the credit card too.

2. Put your signature on the back of the card. The signature is important to block physical purchases by a thief who doesn’t know how to forge a signature properly.

3. If you have more than 1 card, don’t bring them all at once. A good tip is to plan for your purchases first (including which card to use) and only bring that card along. But hey, how many people you know do this? See? It’s a mentality problem.

4. If you’re paying by card, don’t be naive and assume the card it safe – never let the card out of sight. I’ve heard countless stories of people buying things, paying by card only to find out that their card has been racked up to the full the next day – due to the dishonest store worker who got hold of the card.

5. It does make some sense to have multiple cards with low credit limits than a single card with a high limit. If the card gets lost or stolen, the abuser has a high credit limit to shop with. If you have multiple cards, you can’t lose all of them – CAN YOU?

6. Check your bank statements regularly for anything fishy. Call the bank if there’s anything suspicious and make a query.

7. Shred / Tear up your card slips / statements prior to disposing them – ever seen movies where thieves ransack your dustbin for these things?

8. Lost cards should be reported immediately. If you happen to find the card again (through sheer good luck) don’t use it. Wait for the new card to be issued by the bank.

That about covers all we need to think of. See card issuer's site for more information
Visa
Mastercard
Amex
Diners Club

That's it. Remember, play it safe. Ciao