The first thing to remember is not to keep more cards than you require.
While you are always recommended to possess more than one credit card, if it gets lost, you should never carry more cards than you normally require. The prime reason is that it gets extremely difficult to keep track of which cards you have and which you don’t. Hence, keep only the bare minimum number of cards that you use quite often. The other point to note is to keep a photocopy of all the cards you have in your possession. You must have faced many situations wherein you were asked for your card number only to look for it frantically. Now, what happens in case your card is stolen and you do not have credit card statement to be handed over? This surely is a big problem. Considering this fact, it is always a safe practice to keep photocopies of all your credit cards. This will help you to look for the number if anything unfortunate takes place.
It’s always a good idea to keep all your receipts separately.
Among the most crucial safety tips associated to credit cards, this one seems to be of great importance-never keep the purchase receipts of your credit cards in the same place. This is because if your card gets lost or is stolen, you’ll lose all receipts at the same time. At this point you have no means to affirm which transactions belong to you and which don’t. Also, there is no way by which you can provide details about the last transaction you made. Do not keep records of your PIN number along with your card as this indicates more trouble. Do not give your account number to anyone, especially people whom you don’t know. If you are asked to uncover details of your credit card to someone whom you do not know, which can be through emails or telephone calls, the first wise step is to refuse. Give a call to the issuer of the card and ask them if it is alright for you to reveal the information or call back the enquirer. In case the enquirer is hesitant to accept it, you need to find out the reasons.
Never leave the details of your account open to anyone.
This may sound a common form of precaution but if you analyze it closely, most individuals do not seem to follow it. Study your purchases through your credit card on a regular basis. If you have facilities of internet banking, this should not be a problem at all. By doing this you can get hold of inappropriate or suspected transactions. The sooner you report this problem, the quicker will it be addresses and also corrected.
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Category: Money Basics