4. Any unauthorized online transactions on your card
There are many untrustworthy sites which look exactly like popular e-commerce or social media sites and offering some schemes for their users. A recently popular one is Facebook Jobs, a fake site similar to Facebook and offering work-from-home opportunities.
The users will be asked to pay a small fee to enroll, but the moment they enter their card details and CVV, a huge amount will be automatically debited from the card without a second level authorization.
If you notice any unauthorized transactions on credit card, you should report them to the bank at the earliest and request for card cancellation immediately.
Banks will investigate on it upon receiving a written complaint with proofs like screen shots. It may take 30-60 days to complete the investigation. Usually banks reverse the amount till the investigation is over, if they find it genuine. But if not, do not hold the card payments as it may affect your credit score.
5. If you notice any wrong entries in credit card bills
After shopping at a mall, Sheeba paid the bill using her credit card. The cashier swiped her card, but the machine was not working at that time. So she was asked to make the payment as cash.
But Sheeba noticed it in her monthly bill that the product she purchased has been billed by the card, which means the retailer actually received double payment for the bill.
Fortunately, Sheeba had the bill with her and she rushed to the mall to get it sorted. After checking their records, the shopkeeper returned the additional money collected from her.
But most of us usually do not keep the bills with us. So, what can be done in such cases?
Here comes the need to subscribe to card alerts on your mobile. Never skip the option of card alerts on your phone or ignore any such messages you receive from your card company. You can opt out of promotional messages to make sure important messages don’t get missed. Also, check the alerts whenever you are making or trying to make a payment through your card to ensure that there are no double entries.
It is the merchant’s responsibility and not the bank’s to reverse your payments. But, if you don’t have the bill with you, it will be difficult to trace transactions made days ago.
4 Must Have Tips for Your Card Safety
- It is essential to go through your monthly bills in detail, rather than just glance at the payable amount.
- Make sure that the credit card is swiped in your presence.
- If you notice any wrong entries or unnecessary charges in your monthly credit card bill, inform the same to the bank in a written communication.
- Never use your card on untrustworthy sites
Handling credit cards can be easy if you follow the right protocols and use your card judiciously. We hope you don’t find the need to sue someone, date or no date.