How To Protect Credit Card?
Credit cards are plastic cards like ATMs or debit cards used to make deferred payments. The work on the principal of revolving account where you can pay after some period that period is called grace period. The duration of grace period is commonly 20-30 days. The grace period is basically a month cycle where you your cycle start on a fixed date and you have to make payment for one cycle till the grace period date. You will not be charged any interest if payment is made during this period.
How can you protect yourself from credit cards frauds?
Keep your cards information like expiry date, CVV number, address of billing etc., secure.
Skimming is a basic fraud done by merchants. They put a device over the card slot of a public cash machine, which reads the magnetic strip as the user unknowingly passes their card through it. So you must take care that merchant swipe your card in front of you and no other device is attached to swiping machine.
ItÂ’s better to activate your sms or mailing alert, which send you a message after each transaction made through your card. So, if you instantly came to know if some one has stolen your detail or using your credit card details for some payment. You can also ask credit question online.
Some time people use your documents to open a bank account and issue card on those. So, in this case you should directly approach banks if you get some payment receipt at your address.
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