While credit cards bring you swipe-and-pay convenience, even the most secured credit cards in India pose certain dangers. Your credit card contains all the confidential information - including the card number, CVV, and expiry date - hackers and skimmers need to make unauthorised transactions. With identity theft and card cloning on the rise, maintaining credit card security today is more important than ever.
The good news is that a few diligent practices can go a long way in keeping your data safe and your financial well-being intact.
The Fi-Federal Credit Card ensures the safety of your transactions in the following ways:
To top it off, Fi is PCI-DSS compliant. It follows the requirements of the global forum: Payment Card Industry Data Security Standard (PCI-DSS). Essentially, it’s the 'gold standard' compliance scheme to secure credit and debit card transactions.
By regularly monitoring your account, keeping your card safe, setting strong passwords, and using virtual cards, you can enhance your credit card’s security and avoid falling prey to phishing scams and skimming devices.
If you're looking for a credit card that gives you the best bang for your buck, the Fi-Federal co-branded credit card is what you need. With this card, you're assured of a 2% valueback through rewards. But that's not all, as you'll also get 5x on your top 3 brands, 2x on all partner brands listed in the Fi Catalogue (including Amazon, Netflix, etc.) and 1x on everything else, including rent and fuel. What's unique is that you earn points through Fi-Coins. For travellers, the perks are even better, as you can convert your Fi-Coins to airline miles or cashback.
To keep your credit card safe, you can set strong passwords, refrain from sharing CVV and other details, insist on swiping the card before you, use virtual credit card numbers, and shred your old billing statements.
The best way to protect your credit card information is to keep it confidential, so you should avoid writing down PIN details or your card number or sharing card details with anyone else.
Some of the common safety features of a credit card include a data-coded magnetic strip, CVV, multi-factor authentication, EMV chips, transaction alerts, and liability coverage.
You can avoid credit card trouble by spending not more than 30% of your credit limit, paying off monthly dues promptly, maximising reward points, and reporting card theft/loss immediately.
The 10 hidden dangers of credit cards are as follows: