We use credit cards to replace cash. With credit cards, we do not have to carry cash in our wallets all the time to make purchases. This is the reason why credit cards are sometimes referred to as electronic money. However, to guard ourselves against fraud, we have to treat our credit cards like money.

We do not leave our cash anywhere. We do not give cash to just anybody when we make our purchases. We make sure that we give it to a proper store employee. When we pay our purchases in cash, we make sure that the cashier enters the correct amount and code. We keep our eyes on every step of the transaction process until the goods are handed over to us.

These should also be practiced with credit card transactions. We have to be cautious in handling our credit cards to the store's sales staff. We should make sure that the transaction is correct especially as to the amount. We should not give out vital information nonchalantly.

It is also advisable to sign your new cards as soon as you get hold of them and not when you are about to make your purchase. It is also helpful to cut up your old cards upon expiry.

Make sure that when you pay with the use of your card, the transaction is entered in the same store or counter. Do not let your credit card be out of your sight. There have been cases when the purchase is entered in one counter but the credit approval is made in another counter. In this event, follow the salesclerk, so that you will know where what is being done to your credit card. This has also been practiced in flea markets or bazaars where swiping and getting the approval is made in different stores. Take note that fraud can actually place within this short period, so you have to be very watchful on how the purchase is being recorded and changed.

In cases where a personal identification number (PIN) is needed for the use of the credit card, make sure that you memorize this number. Keep the PIN to yourself and never let the sales clerk to do encoding of your PIN on your behalf.

Be a conscientious cardholder. Report your lost or stolen card immediately so that the credit card company can block any further purchase made through your credit card.  Review the purchases you made when the billing statements arrives.  It is helpful if you keep your receipts for future reference. And in cases where unauthorized transactions are reflected, report such fact to the card issuer for immediate attention. Most credit card companies give a period of 30 days from the receipt of the monthly bill to confirm the validity of the transactions reflected. After the lapse of this period, the purchases so indicated are treated as treated as authorized purchases.

So, the next time you use your credit card, make sure that you charge your purchases with care.  You do not want to end up a victim of fraud, do you?