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| Shopping for the holidays |
As the holidays draw nearer, there seems to be a lot of reasons to
go out there and shop. There are gifts to buy and wrap and there are office
parties to get clothes for. Aside from that, there are vacations to pack for
and gas to put in the tank for those trips. The holidays can be a seemingly
endless stream of expenses and it can be tempting to take out a personal loan
just to be able to afford all the things that you want to get for friends and
family.
For many out there, all that shopping will be completed after
swiping their debit or credit card. All this activity can draw the attention of
people who want to steal your credit card information so they could use your
credit card as they might be hoping you wouldn’t notice the charge on your
statement with all the shopping you did. Here then are some debit and credit
card safety tips to keep in mind as you shop for the holidays.
Debit and Credit Card Safety Tips for the Holidays
● Destroy receipts with your credit card number on it - Shred any
document that has your credit card number on it. You don’t want anyone going
through your trash and finding that receipt and using that information to make
a fraudulent charge on your credit card.
●
Don’t lose sight of your card - Don’t let the cashier take your
card away to somewhere where you can’t see where it is. You can avoid the risk
that they’ll run your card on a skimming device that captures your card’s
information. When you eat at a restaurant after shopping for gifts, you could
ask to pay at the terminal instead of giving your card to the server.
●
And watch out for modified ATM machines - If you’re withdrawing
money from an ATM machine with your debit card or credit card, make sure
there’s nothing attached to the cardslot. Some bad guy might have installed a
skimming device on it.
●
Cover your keypad - When you punch in your pin when completing
your purchase, make sure to use your other hand to cover your pin. This should
prevent “shoulder surfing” instances where someone is looking over your
shoulders or are using a camera to find out about your pin code.
● Keep an eye out for double swiping - Cashiers might swipe your
card again even if the transaction has already been accepted by the card
issuer. They might swipe it again after this and your card’s data could be kept
on the merchant’s system and this makes it vulnerable to fraudsters.
● Don’t fall for phishing activities - If you shop online using your
credit card or debit card, you might receive an email telling you that you need
to resend your credit card details because your last order failed. If you
didn’t make a purchase at that site, it’s probably a scam. If you did make a
purchase at that site, then double-check to make sure that the email is a
legitimate email from the online retailer.
● Do you online shopping only from reputable sites - Do your online
gift shopping only from reputable online shops. Established online retailers
will have the right systems put in place to make sure that your credit card or debit
card transactions are safe.
Credit Card vs. Personal Loan for Buying Gifts
Using
your credit card to shop for gifts can help you earn rewards like cashbacks and
airline miles. If you buy electronic gadgets like laptops or with your credit
card, it may be eligible for an extended warranty. But is it OK to take out a
personal loan just to buy gifts? You’ll have to compare the interest rates and
the potential rewards that you will get from using a credit card vs. getting a
personal loan.
About
the author:
This
article is prepared by Michael Vincent of Compare Hero for www.KnowThyMoney.com .Compare Hero is Malaysia’s leading financial comparison website. Compare a
broad range of financial products within the platform, from personal loans, credit cards, to insurance plans.
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