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Dec 02

credit card

Credit card companies have been harassing you since god knows when, take this card, take that card, its free, that’s free and in the end it turns out to be paid. Well I have got a solution to your problems.

1st Step: Get a free for life credit card, ICICI bank claims to offer one but always read the fine print. Take it in written from the agent that the card is free of cost and then only apply for one and sign on the dotted line.

2nd Step: Receive your card, now the first thing you should do after receiving your card is to memorise the CVV number which is written on the back of your card after 4 digits. CVV is a three-digit number used to verify online applications. Now scratch this number out with a knife.

3rd Step: Memorize your Card’s ATM Pin and tear it and burn it away.

Now to get your money’s worth, make a promise to yourself that you will use the card only for things which you have decided to buy already, buy everything you can with a card only, DON’T use cash.

The rationale behind it is that your credit card statement will come next month and you will have till end of next month to pay the bill, so that means instant 2 months interest savings. Plus let me warn you always pay the full amount due on your credit card and never only the minimum amount due if you don’t want to be in a debt. Plus you also earn reward points for which you can get something decent from your bank.

Some general safeguards for using Credit Cardscredit card swipe

  1. Always make sure they are swiped in front of your eyes.
  2. Make sure they are swiped only once
  3. Be on a lookout for an extra attachment to the card machines, these are called skimmers and can clone credit cards.
  4. When using the card on the Internet, make sure it’s not a public computer, even if it’s yours, run an anti-spyware scan before the transaction.
  5. Use your card only on the gateways of banks and legitimate reputed brands, NEVER use your credit card for a get rich quick scheme or similar such offers or on cheap websites of which you know nothing about.
  6. Don’t make gambling transactions on your card, its illegal in India.
  7. The second you see your card is missing, call the call centre number of your bank and get your card disabled, any money spent before that becomes your liability in most cases.
  8. This is my personal trick, in your credit card jacket or for that matter your debit card jacket even, place a chit with a random 4 digit number which is not your REAL PIN, but write PIN on that number, in the event your card is stolen the thief will think he has got a jackpot and if he tries to withdraw money using a wrong pin your card will be swallowed by the machine.
  9. Dont use it at a restaurant where the card will be charged away from your direct view or insist on the card being charged in front of you , remember a little bit of inconvienience can save you from that large shock.

Credit card online transaction

One Response to “Outsmarting Credit Cards : A brief Guide”

  1. Rohan Says:

    Wow , you wrote that all yourself ?


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