Congratulations! You’ve been approved by a bank company for a credit card facility. Before you head to the mall and pick up some new clothes, gadgets and groceries, take a step back and consider the security of your card and financial information.
Credit card fraud is becoming an increasingly popular weapon of choice for the modern thief, and is one of the most-committed crimes in Singapore. There are some tips below that you can take into consideration to keep your information as safe as possible.
The Elementary Safety Practices When Using Credit Cards
- You will be assigned a four digit code to authorize purchases, make sure you are the only one that knows this number.
- Sign your credit card with a strong-inked pen, and with a uniquely identifiable signature. This will make it hard for thieves to forge your signature.
- In case you lose your wallet, have your credit card’s hotline written down somewhere (else) secure. It is important to let them know immediately in the event of a credit card loss/ theft.
- Also, no matter how much you trust your friends and family, no one other than yourself should be using your credit card.
Keeping an Eye on Potential Fraud
- Check all transaction slips before signing them.
- When you sign a receipt, check to make sure you were charged correctly
- Keep your card within sight at all times during the transaction.
- Destroy anything that has your credit card number on it besides your actual card.
- If a machine looks like it has been altered, don’t allow your card to be swiped.
Online Shopping – What to Know
- Do not key in your credit card details on public computers.
- Only shop on websites on your personal computer. Public computers should never be used for making online purchases.
- Ensure your computer doesn’t have a virus by installing and updating antivirus software.
- Make sure the website is secure and has security features in place for protection.
Expiration or Cancelling Credit Cards
- If you have either cancelled your card or it has expired, cut up your card into a few small pieces to prevent someone from capturing your information.
So now you know how to keep your credit cards secure. But are you by any chance making one of these common credit card mistakes?
Want the best financial deals in town delivered to your inbox once a month? Sign up for iMoney’s Monthly Round-Up today!