Precautions to Prevent Credit Card Frauds.

It is very much possible for credit cards to be stolen by miscreants and be used for fraudulent transactions. As an owner it is your responsibility to keep it safe. Precautions should be taken so that you dint have to pay financially for the misdeeds of others. Some of the precautions are as stated:-

• Be slow to give out credit card information:-
Credit card thieves are known to pose as credit card issuers to trick you into giving your credit card number. Therefore give your credit card details only on the calls initiated by you to the customer service number

• Shred anything with your credit card number on it:-
Make sure that all documents carrying your credit card number are destroyed and also, old credit cards which have expired should be destroyed so that your credit card number remains safe.

• Report immediately If your credit card is stolen:-
Report immediately if your credit card is stolen. That way it is less likely that you'll have to pay for any fraudulent charges made on it.

• Review bills regularly:-
Bills should be reviewed regularly so as to determine if all the expenses were your own. It is the easiest way to determine a credit card fraud. If you notice a charge that does not belong to you, no matter how small the amount, report it to the credit card issuer on an immediate basis.

• Sign on the card:-
It is absolutely important that you sign on your credit card immediately after you receive it. Although It is mandatory, many tend to ignore it. If this is not done then the card can be easily be used by miscreants.

• Keep your card’s pin secure:-
It is important that you keep your card pin secure. Don’t write your pin number on your card. Don’t keep it anywhere where it is access able to many people.

• Be careful with the CVV number:-
CVV is used for online transactions. So if anyone knows your CVV number, he/she can use it for online transactions. To prevent this, both sides of the credit card should not be photo copied.

• Opt for a card protection plan:-
In case you have lost or have been robbed off your card, you're in double trouble- your card could be used for a fraudulent purchase and you lose the convenience to pay though the card.
Besides, you may have lost all your other important documents such as pan card, driving license etc. which may have been in your wallet that has now been stolen. Look for a 'Card protection plan' to help you with such dilemmas.

The convenience offered by credit cards to pay off bills, movie tickets, and other related transactions has resulted in an increase in its usage manifold. But there are also associated risks which you need to be aware of. Use it to serve your need but at the same time take all the care to avoid finding yourself in a spot of bother.

Source: http://www.rediff.com/business
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