The DON’Ts when using a Credit Card

We have a separate list of important tips or must-do’s when handling or using  credit cards. You must know many, if not all, of these reminders. It is better, however, to err on the side of caution, so it might be a good idea to go through these important reminders [read also Credit Card DO’s; please feel free to add other credit card DON’Ts through the comment section below].

* Don’t give any credit card information (card number and expiry date) to anyone as these can be used to make unauthorized purchases.

* Don’t sign a blank charge slip.

* Don’t let anyone swipe your card twice without giving you a “transaction cancelled” receipt for the first swipe.

Don’t fax your credit card  number. Your credit card number can lie for hours for others to see at the other end. Anyone passing by can record your number and begin to use your card number fraudulently.

* Don’t leave an expired card lying around. Cut the card horizontally to ensure that the magnetic stripe at the back is divided.

* Don’t respond to any “scam” e-mails, letters or telephone calls seeking credit card or your account information. In case you receive one, call your issuing bank on the number at the back of your credit card for verification. Do not call the numbers given to you by an unknown caller pretending to be an officer/staff of your credit card issuer.

* Don’t use your credit card to withdraw cash from ATM or for cash advance, as much as possible. This is an expensive form of credit.

* Don’t perform online transactions in public places as in cybercafes.

Source: Bangko Sentral ng Pilipinas (BSP).

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