So you’ve finally fulfilled the requisite criteria to be issued a credit card. Or you may even be one of the lucky ones who has been bestowed a supplementary card from someone special who trusts you.
The first thing that crosses your mind is most probably, “What to buy with it?”
Well, what you really should think about first though, is “How to keep it safe?“
Theft isn’t the only thing you want to think about immediately after getting that little plastic licence to spend, but credit card fraud cases are reported every day and it could happen to you unless you learn how to protect yourself.
The basics
- The first thing you need to do when you receive your card is to sign it with a ballpoint pen, black if possible and a signature you’re comfortable with that’s easy enough for you to sign anywhere but at the same time, not easily copied.
- Keep your PIN secure. Your bank will typically print your PIN in a letter sent to you separately. Memorise it or read how to customise it then destroy the letter. Never keep it together with your card.
- Never lend your card to anyone, post pictures of it anywhere public or online.
- Keep your credit card helpline number in your phone to report lost or stolen cards immediately.
Preventing fraud
- Check all transaction slips before signing them.
- Keep an eye on retail staff handling your card.
- Destroy receipts and slips with your card number on it.
- Watch out for suspicious protruding devices before swiping your card. When in doubt, don’t swipe.
Preventing online fraud
- Do not key in card details on public computers.
- Only key in details on computer terminals that are secure (installed with updated antivirus programme).
- Make sure the website is a secure site and the browser you use is secure (check the bottom right section of your browser for details on website security and click on browser settings to check on browser security settings).
- Only make purchases from reputable websites.
Expired cards
- Once your card has expired or if you have decided to cancel your card, cut your card into at least two pieces, and then dispose of the pieces carefully.
Now that you know how to keep your credit card safe, make sure you’re not making these 5 common credit card mistakes!
