Credit cards: Some dos and don'ts

More and more Indians are making use of credit cards, or some form of plastic money, be it in the form of an ATM card or a debit card, a smart card or a credit card.

But as plastic money usage grows, more and more stories of credit card frauds and mishaps are also coming to light.

So how does one be safe? Here are some basic guidelines -- dos and don'ts -- to help you be secure when using a card.

DOs

• Ensure the transaction on your credit card is done only in your presence.
• Remember to collect your card after every ATM transaction or purchase.
• Ensure that while transacting on the ATM you have complete privacy.
• Ensure your ATM PIN is changed at least once in three months.
• Always keep your ATM PIN confidential.
• Sign on the card as soon as you get it.
• In case you lose your card, call the helpline immediately. The cardholder is liable for all transactions before reporting the loss of credit card.
• If you suspect someone to be pretending to be from the card issuer and you have doubts, call the bank's helpline to confirm.
• Keep all card number, expiry date and contact number of the card issuer at a safe place for ready reference. This must not be kept along with your credit cards.
• Be alert to scam e-mails. These are designed to trick you into downloading virus or disclosing sensitive information.
• Beware of phoney, look-alike Web sites, designed to trick you and collect your personal information. This is also called 'phishing.'
• Ensure the history of Web sites visited/accessed is cleared if you use your card in Internet cafes.

DON'Ts

• Do not handover your card/ATM PIN to any person claiming to be from the card issuer or any other agency, even if he/she produces an ID card.
• Do not handover a copy of the backside of card carrying the CW2/CVC2 value (the last 3 digits after the card number printed on the signature panel at the back of the card) for any application processing of other bank even if it is requested for.
• Do not provide any personal/financial/credit card-related information on the unknown Internet site or respond to any e-mail seeking such information form you.
• In case you do receive such an email from any source, inform your card issuer immediately.
• Do not disclose your security password/PIN number to any person.
• Do not write your ATM PIN on your credit card.
• Do not disclose your sensitive credentials like transactions, credit limit to any other person.
• Do not throw or return the card without cutting the same in multiple pieces across magnetic stripe.