Ensure Your Credit Cards Are Safe To Use

Ensuring against debts run up on a credit card

When applying for a credit card always check the terms and conditions for any annual fees and any late payment charges or any fees payable when making a balance transfer.



Ensure that you do not incur a late payment fee as this will be added to your outstanding balance. The best way to ensure that this does not happen is to set up a direct debit that will always pay at least the minimum amount when it falls due. Alternatively diarise the date when the monthly payment falls due and pay (typically four to five working days before the monthly payment falls due) by phone/internet banking, by post or at a bank or if a store card at the store itself.

Ensuring against identity theft and credit card fraud

When paying for goods or services never let your card out of sight and when inserting your PIN, shield the keypad from any prying eyes. The use of chip and PIN is now regarded as a great way to eliminate credit card fraud. It has been estimated that it has been reduced by up to 80%. However, to ensure that this remains the case remember never reveal your PIN to anyone and never make the mistake of writing it down and then keeping the written information together with your credit card.

Always keep your receipts of the goods and services that you've paid for and compare them against your credit card statement. Report any entries that you cannot account for to your credit card company.

Obtain a credit report and check to see whether you are a victim of credit or identity fraud. There are several companies (Experian, Equifax, PrivacyGuard to mention a few) advertising their services and you can obtain your credit report often with free trial period thrown in and you get to keep your credit report even if you decide not to proceed after the trial period has ended.