10 Tips to Protect Your New Card

Congratulations! Your bank has just approved your application for a credit card. Before you start charging the card, take note of the following points to protect your card from fraudulent uses:

1. Sign your name on the reverse of the card as soon as you receive your new card.

2. Do not disclose your 16 digits number and the 3 digits security number to anyone.

3. Keep copies of your charge slips and use them to check the monthly statement. Look for charges which are not transacted by you.

4. Whenever you go overseas inform the bank and provide a contact number.

5. Arrange with your bank to increase the credit limit for your trips abroad.

6. Inform the bank in the first instance when your card is lost.

7. Whenever possible keep your card in sight when you use it to avoid fraudulent charges. When the card is returned to you check and make sure that it is your card.

8. Do online transactions on secured sites with an ‘S’ – https:// not just HTTP://

9. Never leave your card unattended or leave it in your car. Always keep it with you.

10. Protect your Personal Identification Number (PIN) to access an Automatic Teller Machine (ATM). Memorize it if possible or keep the number separately.

Be vigilant and always be on the alert when you use your card. Make it a habit to check your wallet every now and then to make sure that the card is always with you

4 Types of Plastic Cards to Make Purchases

There are four kinds of card, namely, credit card, charge card, debit card, and prepaid card.


Credit Card: The credit card issuer, upon approval of your application, will issue a card to you with a credit limit. You can use it worldwide. When you receive the monthly statement you pay the full amount or the minimum amount. Visa and MasterCard are such cards.

Charge Card: American Express and Diners Club are the issuers of charge cards. Upon receipt of their monthly statement, you have to pay the full amount. However, there is no credit limit. It is only limited by your spending power.

Debit Card: The card is linked to your savings or current account. Every time you use the card the amount is deducted from your account. You use your debit card just the way you use your credit or charge card.

Prepaid card: The other card is the prepaid card. You load the card with a certain amount and then you can use it like a credit or debit card. You use the prepaid card to limit or control your monthly spending.


Choose the right card to suit your needs