Safe Payment Modes

Can Credit Cards be Considered as Safe Payment Modes?

Credit card usage is increasing, but a large section of the population is still skeptical about the safety of this product. Credit cards offer several benefits including ease of convenience, reward points, and access to short-term credit. But at the same time, there have been instances of online fraud involving credit cards which tend to dissuade new users. 

Does that mean that we should stop using credit cards?  The answer is no because credit cards are quite safe to use because of their inherent safety features. Also, you can always take preventive measures to ensure that your life-time free credit card is a safe and secure option to make your payments.

Safety Offered by Credit Cards

In today’s hi-tech world when fraudsters use the latest software and techniques to commit fraud, safety is a prime concern for everyone, especially credit card users. Among the various plastic money options available today, credit cards are the safest. 

Here are some reasons to support this argument:

  • Since credit cards are not linked to your bank account, an extra layer of security is available. 
  • Fraudulent use of your credit card by someone else will result in zero to limited liability for you especially if you report the fraud immediately.
  • Credit card companies send you regular alerts about various transactions, especially suspicious transactions. You can always alert the bank if a transaction has not been carried out by you.
  • In case of any disputes regarding the quality or quantity of a product bought or fraudulent transaction, the credit card issuer freezes the payment. 
  • Among the various types of credit cards available today, the new ones with chip technology make it difficult for counterfeiters to steal your credit card information.

Tips to Ensure Your Payments Via Credit Card Are Safe

In addition to the various inherent safety features in your credit card, you need to exercise caution to prevent any kind of fraud. 

Here are certain tips which can ensure that you enjoy the advantages of using a credit card without worrying about its safety:

  • Use your credit card for shopping or making payments only on trusted sites. Avoid shopping on sites that are new or by clicking on unsolicited emails. Such links can take you to fraudulent websites created for stealing your credit card information.
  • Use your computer or mobile or laptop to transact via your credit card and avoid public networks or machines.  The chance of your credit card information getting stolen is higher on public machines or networks.
  • Ensure that your laptop or computer has the latest anti-virus and anti-spyware software and protection from hackers.
  • Enter your credit card information only on secure sites and do not save the same. Use websites that are secure, and their URL begins with https://. The presence of a lock next to the URL indicates that the website you are visiting is safe and secure.
  • Use strong passwords or PIN numbers for your credit cards.

Follow these tips and you can avoid or reduce the chances of fraudulent use of your credit cards.