 LEARN
ALL ABOUT CREDIT CARD
A
credit card is a thin plastic card, usually
3-1/8 inches by 2-1/8 inches in size, that
contains identification information such as
a picture or signature, and authorizes the
person named on it to charge purchases or
services to his account - charges for which
he will be billed periodically.
CARD
TYPES
There
are basically three types of credit cards:
- Bank
cards, issued by banks (for example:
MasterCard, Visa and Discover Card);
- Travel
and entertainment (T&E) cards, such as
American Express and Diners Club;
- House
cards that are good only in one chain of
stores (Sears is the biggest one of
these, followed by the oil companies,
phone companies and local department
stores.) T&E cards and national house
cards have the same terms and conditions
wherever you apply.
CREDIT
CARD SAFETY
The
good news is that consumers are protected by
law - in case of credit card fraud online or
off, you are only liable for a maximum of
$50 of the amount stolen.
These tips are important and universal:
-
Sign your card - as soon as you
receive it! (Obviously, this is only as
effective as the clerk who's checking
it.);
-
When you use your card at an ATM,
enter your PIN in such a way that no one
can easily memorize your keystrokes;
-
Don't leave your receipt behind at the
ATM;
-
Never give your credit-card number over
the telephone unless you initiated the
call;
-
Ignore any credit card offer that
requires you to spend money up-front
or fails to disclose the identity of the
card issuer;
-
Make certain you get your card back
after you make a purchase (one habit
to observe is to leave your wallet open
in your hand until you have the card
back). Also, make sure that you
personally rip up any voided or
cancelled sales slips;
-
Always keep a list of your credit
cards, credit card numbers and toll-free
numbers in case your card is stolen or
lost;
-
Check your monthly statement to make
certain all charges are your own, and
immediately notify the card issuer of
any errors or unauthorized charges.
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