Pointers to Avoid Credit Card Frauds

• Before throwing credit cards away, ensure that you have cut them up into four. Make sure the magnetic strip (the black strip) behind the card is not left intact since it holds key information that can be misused.

• There is a critical 3-digit number on the back of the card called CVV (card verification value). The 16-digit card number, expiry date and CVV together, are enough to complete an Internet transaction. Memorize, note-down (elsewhere please, not on the card itself) and blacken the CVV.

• A card’s magnetic strip has the basic details of the cardholder. But the card also comes with a blank space for you to sign in. Take a minute and sign in. Else anyone who may get your blank card, can sign in and use it.

• Never ink your credit card PINs on your credit cards! The thief who gets your card would hit a double jackpot – both the card and the PIN in one piece.

• Carry your cards separately from your wallet, in a zippered compartment, a business card holder, or another small pouch.

• Always browse through your billing statement. If you are the organised kind, you will keep all charge slips with you and compare them with the bill. If you find that there is some spend that you cannot account for, call your issuing bank and complain.

• Ask your bank to send you an SMS, a mail, or to call you and alert you every time your card is used if they provide that facility. You don’t have to wait for the billing statement.