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Credit Cards can make you Poor
Warnings When Using Credit Cards
Here are some important tips you should consider:
- Use credit cards only for essential purchases.
- Keep unused cards in a safe place.
- Carry your credit card separate from your wallet or purse.
- Reduce the number of cards you carry and use just one or two, so that all your cards cannot be stolen at once.
- Return all unwanted credit cards and cut them up into pieces.
- Never lend your cards to anyone.
- Destroy any card and paper receipts from your credit card purchases.
- Always keep hold of your cards when handing them over for a purchase.
- Report anything untoward that happens when you use your card.
- Don't sign any blank charge vouchers for your credit cards (for example when hiring a car).
- Never give your card numbers out over the telephone.
- If you use your credit card, write the amount of the purchase on your chequebook as well, so it is recorded.
- Sign your card as soon as you receive it.
- When you use your card at an ATM, enter your pin number in such a way that no one else can see it or memorise it.
- Don't leave your receipts at the ATM so that others cannot have access to your account number.
- Make sure you get your credit card back after making a purchase.
- Never give your credit card number over the telephone unless you are the one initiating the call.
Monitor Your Card Statements
Here are some more tips when using your card.
- Always keep a list of all your credit card details in case they get stolen or lost.
- Make sure you check your monthly statements as soon as they arrive to see if there are any incorrect or unauthorised charges.
- Use the card wherever you can, but pay it off each month.
- Avoid cash advances at all times.
- If your credit card is out of control seek help and cut it up.
- Apply for charge-back if necessary. This means that if you don't receive what you paid for through your credit card you can get a refund by asking for a charge back.
- Report all lost cards immediately.