Protecting Your Credit Cards

A credit card is a payment instrument that enables you to make purchases of goods and payment of services instead of using cash or your debit card. You can use the credit card at any merchant locally or internationally, which displays the same credit card brand as that on your credit card.


The credit card issuer will pay the merchant on your behalf first and bill you later. When you get your statement, you are required to settle at least the minimum payment amount by the due date. The credit card issuer will impose finance charges (interest) on the outstanding amount if it is not paid by the due date.

Do’s

1. Sign it - Sign your new cards as soon as you receive it.
2. Watch it - Make sure your card is always within your sight when you make a purchase and the sales person returns your card, sales draft and store receipt after the transaction.
3. Draw it - Draw a line through blank spaces above the total or circle the purchase amount on the sales draft when you sign your sales draft.
4. Keep it - Keep all your sales drafts for your transactions. Even at a self service station.
5. Verify it - Verify sales drafts for the month against your card statement. Report to the bank immediately if there should be any discrepancies/error.
6. Report it - If your cards are stolen/lost, call your Card Center immediately.
7. Record it - Make a list of your card account numbers and telephone numbers of your Issuer’s Card Centers, in case your cards are stolen/lost. Keep the list in a safe place.
8. Pay on time - Make your credit card payments on time. Be careful to avoid late payment and penalty charges.

Don'ts

1. Lend it - Do not lend your card to anyone, even to a friend or family member. Credit cards are not transferable.
2. Give it - Never give your card account number over the phone unless you've validated the company or individual you're speaking with.
3. Disclose it - Never write or keep your PIN number in a purse or wallet -- memorize it and then destroy the PIN notification.
4. Leave it out of sight - Never leave your cards unattended, out of your sight or in visible sight of others. Remember that they are as good as cash.
5. Lose it - Make sure your card(s) is always in your possession, check periodically to confirm.
6. Over-spend - It is important to budget accordingly to avoid overspending.

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