Credit cards are the most common mode of payment nowadays. It provides you with convenience in paying your bills and even benefit from your frequent use of your business credit card by earning rewards that can be converted into discounts, gift certificates and gift items. However, using credit cards can put you at risk. If your card is stolen or lost, your account can be used for fraudulent transactions. This opportunity has created a number of black markets for stolen credit card numbers, which are used quickly before the cards are reported stolen to the provider.
Security measures also apply for credit cards. Security relies on the plastic card and the privacy of the credit card number. You are not secured if someone other than you has access to the card or its number. With that, merchants usually verify for mail order transactions. They even record the delivery address to avoid fraudulent purchases. Other merchants accept credit cards upon access the presentation of the card along with signature. A stolen card can be cancelled and should be done quickly in order to avoid fraud. Security PIN is required for online purchases and for automated teller machines. For telephone transactions, there’s an additional feature to secure the credit card transaction and prohibit the use of a lost credit card. Each transaction is verified through a call to the phone. Upon entering the cardholder’s PIN code during the call, the transaction is automatically released.
These are just some of the many measures implemented for more secured credit card transactions. Disclose any information about your credit card only to yourself; it’s the best way to keep away from these fraudulent acts. Apply yourself right now for secured business credit card.
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Ailene G. Alcomendas is a freelancer from the Philippines. You can visit her credit card site at www.creditcardplunge.com for more credit card tips.
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