With more than 70 million credit cards actively used in the country, you can imagine the growing demand for plastic money. The increase in demand can be dedicated to the easy application process, attractive rewards and benefits on spends and availability of a variety of cards to meet specific needs. However, with the steep rise in credit card usage over recent years, which has also paved the way for transaction-related frauds. Not many credit card users know that their card comes with different safety nets that can be deployed by logging into the account through the mobile app or bank website. Having said that, let’s look at the five ways to make your credit card more secure.
1. Cap your credit limit
The card issuer offers a credit limit to the user. It is, however, not necessary that you use the entire credit limit offered. For instance, if your credit card has a limit of Rs. 2 lakhs, but your usage doesn’t go beyond Rs. 50,000, you can cap the credit limit. Any transaction that goes beyond 50,000 will be automatically blocked, thus providing your enhanced security.
2. Deactivate contactless transaction
Most of the credit cards come with a tap to pay option that offers a contactless transaction facility. As a result, any transaction less than Rs. 5000 doesn’t need you to enter the PIN. While many users find the feature useful, it can be dangerous if the card gets stolen. You can deactivate the contactless transaction feature or lower the limit.
3. Deactivate international transactions
Keep international transactions deactivated if you are not travelling abroad. As most international e-commerce or online transactions are processed without a one-time password, it might get difficult for you to block any suspicious activity. Keeping international transactions deactivated will reduce the risk of fraudulent transactions.
4. Shop on secure network
If you are doing online shopping, use only secure websites and avoid shopping on public wi-fi. Many cybercriminals spy on public wifi networks and you might become vulnerable to these hacking attacks. Using a public wifi network means compromising your account passwords, banking credentials and other sensitive information.
5. Have unique passwords
Having unique and complex passwords for your credit card will prevent a hacker from accessing your account. An effective password has upper and lower case along with numbers and special characters. Also, do not keep the PIN for all your debit and credit cards the same because it could increase the risk of more money being transacted from your account if the cards are stolen.
Final Words
Making your credit card more secure is not difficult, provided you know the right ways to do so. Whenever you get a new credit card, change the default password immediately to make the usage more secure. Use online banking features to increase the security of your credit cards. Hope that these five tips will make your future transitions safer and more secure.
