Warning !! (safety tips)Warning!! . Review on Avoiding Credit Card Fraud

I share with you a shattering experience of one of my colleague.

* I also request you to read other reviews under category

'' Home>personal Finance >Cre Cards>Avoiding Cre Card Fraud''

and I had omitted those things. Otherwise they will be repetitive'' *

He is having  A credit card of particular bank. One day he received a call  APPARENTLY

from that bank which told him that they will raise the credit levels (or something

similar). And one of their colleague will come and collect that old card and

he will receive a new card in few days.

After few days one person APPARENTLY from that bank came to them

collected the old card, gave a receipt for that card. But my colleague  says he had

CUT the card (at least he is saying).

Now the shocking news!  Yesterday he has got call from the Bank and told

him his payment fof 60K is due and should be paid asap. He is shocked

and told the entire matter to them. The bank is at present doing all the

required things and told him not to worry as a Credit guard is On. and will

take care of the problems.

He came to know that all these bills are purchases made in Very big shops.

So the tips Now.

1) Banks never want your card physically. Many times they do not

need even your C V V as well. Again NEVER they will ask for your PIN be it TPIN or

ATM PIN . Never Never!

2) One of my friend has a nice suggestion. it is to note down the C V V at

a safe place ( in your dairy may be ) and   rub that number from your card

(or mark with a permanent pen). Even if the card is lost no body will know

your c v v  no. and internet transactions will be not easy for the thief!

* If you are all concerned about these and other things listed in these

categories of Credit Card frauds it is high time that we request card

issuing banks the following features''

a) stop printing C V V and Exp Date on the CARD but be only stored

in magnetic strip and inform us those details just like ATM pin by mail

b) increase the ATM Pin to 6 digits, allow us to change it( SBI cards does not

allow) and make it mandatory in all internet transactions ( and may be

for purchases at shops also , just like debit cards)

rgds

prasad