How can youngsters keep their credit cards safe?

A recently-released data by the Reserve Bank of India (RBI) reveals that credit card spending hit an all-time high year on year in India.

With the increase in transactions, credit card users, especially the first-time and young users, are advised to apply extra caution in handling these financial products.

Here are some tips to eliminate safety concerns while using your credit cards.

A credit card is like your bank password. Only you are allowed to use it. You can’t give it to relatives or friends.

 Giving your credit card to an unknown person can put your financial health at risk. In India, cards are highly secure, with checks and balances such as PIN authentication.

 But each country has its own checks and balances. In a foreign country, there could be higher risks.

 When transacting with it offline in places like shops and restaurants, make sure your card is swiped in your presence.

 In your absence, there is potential for misuse.

eep your password away from the reach of unknown people. Safeguard information such as online login details, passwords, card and CVV numbers.

If this data is breached, there can be misuse. Avoid using public computers and networks to input sensitive financial details.

 For greater safety, you could also change your credit card’s PIN and online login password every three or six months.

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