A credit card can make your life easier in many ways. You can purchase expensive items on EMI basis, be prepared for emergencies that require a lot of money on a short notice, and even shop online to enjoy huge discounts/cashback offers, etc. However, the benefits come with their share of risks.
The Risks: Credit Card Scams
Frauds related to credit cards aren’t uncommon. Tricksters use all kinds of methods such as skimming, triangulation, etc. to dupe their victims and cause financial damage. However, there are various steps that you can take to prevent yourself from getting trapped in a scam:
1. Protect your card details
Never reveal your card details especially the PIN and password over phone or email. A lot of fraudsters try to trick their victims by telling them that their credit card details have been stolen and they need to know their PIN so that they can block the card. The victim, naturally panicked, shares the PIN with them which they then use to make unauthorized transactions.
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