Quantcast
Latest Stories

CyberMax

Credit Card Smarts

By

The credit card’s ubiquity is undeniable. It’s the preferred method of payment for online merchants and a lightweight and safer alternative to carrying wads of cash while abroad.

However, it is this popularity that has also made the credit card a target for unscrupulous characters – identity thieves, hackers, et al. have found ways to breach the digital fortresses built around the system, resulting in unauthorized purchases and card cloning. Keep your credit card and its pertinent information safe from opportunistic criminals by being aware of safe online shopping practices and credit card safekeeping when traveling.

Keep mum

Never ever divulge your credit card details via e-mail. It is not the practice of online merchants to ask you to provide them your credit card info through an e-mail to re-process a failed transaction. Avoid following links sent through e-mails, too, as this could be a phishing scam, where fraudulent e-mails pretend to be from legitimate brands which then redirect you to a site that steals your info when you input it.

Safe shopping

Those who engage in selling merchandise online are required to process payments in a secure, encrypted environment. You know you are being redirected to an encrypted page when the site’s address changes from “http” to “https” (a small padlock icon also appears). Only transact with an online shop when they have a secure way to process your payment. Unless you create an account with them where you save your credit card details for faster payments on your next purchase, they should not save any of your credit card information.

Become a secure online shopper by signing up with PayPal. PayPal is a worldwide payment system that acts as a middleman between yourself and online shops, ensuring that you don’t have to give up your credit card details—just your PayPal username and password.

Another option to keep your credit card info safe is to ask your bank to provide you a virtual credit card number. Some banks give you the option of securing an alternative card number that you will use exclusively for online purchases—you can even set a credit limit which helps protect you in case of any attempted fraudulent purchases.

Avoid sharing your credit card information when you are using public WiFi hotspots – these networks are unsecured, you might as well hand over your credit card to the hackers for them to use.

Travel safe

Protect your credit card against fraud abroad by being aware of these tips:

1.  Choose a card with added security measures.

For traveling, apart from selecting a card with perks like mileage points, e.g., choose one that has added security measures in place, like one with photo ID at the back—if it gets stolen, no one will be able to use it, not without the thief rearranging his face first to look like you.

2.  Write down important details.

Keep a note of your credit card number and the issuing bank’s customer service hotline separate from your wallet. That way, you’ll be able to report any loss or theft immediately—should your card get stolen, your immediate report of the incident will ensure that you won’t be liable for any unauthorized charges made after you report the theft. If it goes unreported, you may be held partly accountable and may be asked to participate in any purchases charged to your card.

3. Check transactions—and keep receipts.

Make sure to keep all your credit card receipts from your trip in one envelope for easy reference, and if your bank allows you to view transactions for the day, do try to verify if the purchases reflected on your account are indeed valid. That way, if any discrepancies show up, you will be able to get in touch with your bank and contest it immediately.

4. Draw the line.

Credit card companies and banks advise you to draw a line in any blank spaces in charge slips meant for tips, etc.  This ensures that no one can add an amount for gratuities after you’ve paid the total bill.

5.  Pack light.

To avoid any confusion on your part, limit your purchases to one or two credit cards and leave the rest at home. This will not only help you keep track of your spending, it will also allow you to easily monitor your credit card activities.

6. Designate a traveling ATM card.

If the thought of carrying too much cash makes you uneasy, open an account with a bank that can issue you an ATM card that doubles as a debit card—these are cards that also have a 16-digit card number and a MasterCard/Visa logo which can be swiped at most terminals like a credit card.  Creating a travel account separates your savings from your travel budget, limiting your loss in case it falls in the wrong hands. You can always link your travel account to your main account for real-time fund transfers which you can do via the phone or online, should you end up needing more funds during the trip.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Consumer Issues , Credit card , Cybermax , Sunday Inquirer Magazine , Tatin Yang



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. 12 other things you can do at Pico de Loro Cove
  2. Lover’s quarrel linked to hunger – study
  3. How Vitamin B can be a remedy for ‘manhid’ and neuropathy
  4. Encounter with a ‘Mangkukulam’
  5. ‘Kamias’ for fever, ‘siling labuyo’ for headache–first aid in the kitchen
  6. Summer treat for your aspiring astronomers
  7. ‘Heaven is for Real’: Nonfiction book on life after death reaches screen
  8. 90 percent of Filipino households don’t practice proper toilet hygiene, sanitation
  9. Sarah Geronimo and Matteo Giudicelli sing ‘All of Me’–and we all swoon
  10. Marcos grandson to wed beautiful Rocha scion
  1. Dominique–Gretchen and Tonyboy Cojuangco’s daughter–now an endorser
  2. Why is the lifestyle set now afraid to wear jewelry–before Kim Henares?
  3. Marcos grandson to wed beautiful Rocha scion
  4. France makes work beyond 6 p.m. illegal
  5. Sarah Geronimo and Matteo Giudicelli sing ‘All of Me’–and we all swoon
  6. South Koreans crave Asia’s smelliest fish
  7. Ever heard of HydroBob?
  8. How Vitamin B can be a remedy for ‘manhid’ and neuropathy
  9. 90 percent of Filipino households don’t practice proper toilet hygiene, sanitation
  10. Prince William fuels speculation of second royal baby
  1. Mary Jean Lastimosa is new Miss Universe Philippines
  2. Did Angara ruin Pia Wurtzbach’s chances at Bb. Pilipinas?
  3. Dominique–Gretchen and Tonyboy Cojuangco’s daughter–now an endorser
  4. Manila in shock over model Helena Belmonte’s death
  5. Vinegar test helpful vs cervical cancer
  6. From Jeannie to mom of suicide victim
  7. San Vicente beaches hidden but not for long
  8. Borgy and Georgina are back; others are off–again
  9. Sen. Angara: I thought Pia Wurtzbach gave a good answer
  10. Ex-Givenchy model fights for ‘Yolanda’ survivors

News

  • AFP denies hand in disappearance of Tiamzon’s gardener
  • PH gov’t to verify MILF presence in Basilan clash
  • Padaca ‘eager’ to air side on trial over graft, malversation raps
  • DPWH to favor road rehab over preventive maintenance in next 2 years
  • Uruguay’s leader declares $322,883 in wealth
  • Sports

  • Power Pinoys salvage 7th place in Asian men’s volley club championship
  • Knicks prevent Nets from clinching fifth seed
  • Arsenal beats West Ham 3-1 in Premier League
  • Memorial service marks Hillsborough anniversary
  • My ideal weight is 140, declares Pacquiao
  • Lifestyle

  • Celebrate Easter Sunday at Buddha-Bar Manila
  • Moriones feast: A slow, steady transformation
  • Weaving ‘palaspas’ a tradition kept alive in Tayabas City
  • Finalists announced for best translated books
  • Summer treat for your aspiring astronomers
  • Entertainment

  • Deniece Cornejo posts bail—report
  • Miley Cyrus hospitalized, cancels US concert
  • Otaku Summer Jam 2014: Summer’s hottest J-rock/Cosplay event
  • 2NE1 returns to Manila with “All Or Nothing” Tour
  • Gary Valenciano just keeps moving
  • Business

  • I-Remit teams up with Lakhoo for remittances from Oman
  • Megawide nets P1.4 B in 2013
  • Longer TRO sought on rate hike
  • Make a stylish statement with the all-new Yaris
  • Hearing set in Olarte case
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • We may never know
  • Couple of things
  • Mommy D’s magic
  • Stop bizarre and bloody Good Friday rituals
  • Holy Week taboos
  • Global Nation

  • 2 PCG men ordered arrested over Balintang Channel shooting
  • US Embassy closed on Holy Thursday, Good Friday
  • Relief worker draws inspiration from helping Yolanda victims
  • Philippines says peace pact should hold despite clashes
  • No travel restrictions to Middle East amid MERS-CoV scare
    Marketplace