Credit cards are known to offer rewards and convenience. Using it to pay utility bills and loans regularly can boost your credit score. But not being careful can cost you big time. The US saw nearly 3,93,207 credit card fraud cases out of 1.4 million reported identity theft in 2020. New credit card accounts saw a 48% increase from 2019. Identity theft is a common scenario in the credit card world. An unauthorized person can access your details and use them to make purchases. Being a victim of online fraud is not rare.
This is since certain cards do not require the user to feed a PIN/OTP. So, try to be proactive to keep your card information from getting stolen online. Take a look at a few golden rules to follow to ensure ultimate safety.
1. Change the PIN Frequently
Cyber experts recommend changing the PIN at least every 3-6 months. Try to add complex and unique 4-digit number combinations. This will add a layer of safety and make your lifetime free credit card less susceptible to abuse. It is mainly used to verify your identity. Do not write down the PIN anywhere. Keep it safely stored in your phone or email it to yourself.
2. Secure Shopping Site
Look for ‘https’ and a green lock icon in the address bar. ‘S’ stands for secure. It means the website uses strong encryption technology. Your details are less likely to get hacked. Avoid any suspicious or unprofessional site to stay away from phishing attacks. Shop only on trusted e-commerce. Do not allow browsers to store your details.
3. Avoid Public Wi-Fi
Open and unsecured networks help hackers hijack your session. This is possible even with the most advanced and best credit card in India. It is since it is usually of minimal protection. This way they can login as you and steal your credit card details. Try to avoid cyber cafes for transactions. Look for secured connections. Home servers are the best idea when it comes to using your credit card.
4. Set Transaction Limits
The lower, the better. So put a cap on the upper limit after you apply for credit card and receive it. This can help minimize the severity of the cash loss, if any. This will not impact your credit score negatively.
5. Check Card Account Frequently
Keep reviewing your recent activities. You can set up e-mail alerts beforehand. These will notify you in case of suspicious activities. Check transaction details and their statements thoroughly. Look for signs of malicious acts and report to your bank immediately. The investigating authorities will use IP addresses, timestamps and location data to check who might be involved in the process.
A lifetime free credit card is a boon for several reasons. Make sure to protect it at all costs by putting these simple tips into action. Keep your account number private and report lost cards right away as well for ultimate security.