Using Credit Cards Smartly

Tuesday, March 24, 2009

Having a credit card is a privilege and also taking responsibilities. As one of those cardholders, I want to share these tips, I've got this from a flier delivered to me together with my statement of account.

Tips to secure your Credit Card Accounts:
1. Keep a record or memorize your credit card number and your issuing bank's contact details which can be found at the back of your credit card.
2. If you are issued a PIN (Personal Identification Number) fro ATM Cash Advance Transactions, memorize it and destroy the mailer on which it was sent to you. Never change your PIN combinations that could easily be identified such as your birthday.
3. Keep a copy of your transaction receipt so you can match them against your monthly statement of account. Report any changes that you do not recognize immediately or within the designated timeline stated in your statement of account.
4. Never share your credit card details and PIN to any person. Transactions that use your credit card number and PIN may be charged to you.
5. Notify your issuing bank of any changes in your contact details and address.
6. Personally hand over your credit card to the cashier when paying for transactions.
7. Always make sure that the amount on the transaction slip is the actual amount on your purchase before you sign. Never sign a blank transaction slip.
8. Make sure to secure your card while shopping. If your card gets lost, immediately call your issuing bank to avoid paying fraudulent transactions.
9. To ensure that your are not logged on to a spoofed website, check that the URL address starts with "https". Moreover there should be a padlock icon located at the lower right portion of the web page to indicate that it is a secured website.
10. Your issuing bank will never call you to ask for your credit card or your account information. Should your receive such calls or letters, always call your issuing bank on the number at the back of your credit card for verification.
11. Endorse or sign all credit cards as soon as they are received from the bank.
12. Keep a list of your credit card company's call center/emergency hot line numbers in case of disputes, questions or to report a lost or stolen card.
13. Never allow the use of your credit card as reference (credit card number) or as an identification card.
14. Take note whether your card is held for more than the regular time. Be alert when it is not returned to you after an unusually long period.
15. Keep your credit cards in a secure place.
  • It is the cardholder's responsibility to know their payment due date. The cardholder should make sure to make payment on or before this date, to avoid any penalty or late fees.
  • If you have any concerns or problems with a collection agent, please report it right away to your issuing bank. Make sure you have the name of the collections agent whom you talked to and other pertinent details such as name of collections agency, date and time of call.


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