The threat of fraud is a serious concern for both issuers and cardholders. Common sense is the best fraud prevention strategy for you as a cardholder. Follow these useful tips when you get your card:
Sign your name on the back of your card.
Store the card number and any customer service phone numbers associated with it in a secure place, not in your wallet.
Every card has a Personal Identification Number code or PIN code. This code allows you to withdraw cash on the card and must be known only by you. Memorise this code, and do not write it down.
Your maximum liability on credit and charge cards is usually £50 for fraudulent transactions made before the issuer is notified. Issuers of credit cards, therefore, bear the initial cost of fraud. Your liability is not limited if you have been grossly negligent, written your PIN code on the card, or if you have played a part in the fraud. Follow these tips when using your charge or credit card:
Treat your card as carefully as you would your cash.
Only give your card number to someone over the phone if you initiated the call.
Only give your card number over the phone to representatives from a reputable company.
Only give your card number over the phone if you agree to pay for goods or services.
Check that the purchase amount is included and correct before signing a charge slip.
Take the card with you after making a purchase, paying for a meal or withdrawing cash.
Never disclose your PIN code to anyone. There is no legitimate reason why anyone, including representatives from the bank, card issuer or the police will ever ask for your PIN code.
Report lost or stolen cards immediately to your card issuer using the 24-hour emergency telephone numbers they provide.
