Tips For Using Credit and Charge Cards
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Written by Paul Richard, RFC - Institute
of Consumer Financial Education, Executive Director
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The Institute of Consumer
Financial Education (ICFE) now has available
for consumers, educators and counselors "Credit/Debit Card
Warning Labels"
and NEW "Credit/Debit Card Sleeves," a/k/a condoms.
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Reduce the
number of cards you carry and use just one or two.
(Optional: Place credit card warning labels on front of
credit cards.) |
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Use credit
cards only for essential purchases. |
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Return all
unwanted credit cards, cut up into pieces, to the card
issuer. |
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Keep unused
cards in a safe place. |
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Carry credit
cards separately from your wallet or purse. |
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Keep your
card in view whenever you hand it to a merchant. |
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Destroy carbon
papers on receipts. |
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Never lend
your cards to anyone. |
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Promptly
report questionable charges. |
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Avoid signing
blank charge vouchers. |
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Don't give
card numbers out over the phone on calls you didn't originate. |
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Enter charge
purchases in your checkbook register as though they were
a check. |
If your cards are stolen or lost, call the card issuer(s) immediately.
Most issuers have toll-free numbers for reporting missing cards
and usually maintain 24 hour service. The law says once you make
a report of the missing card(s) you have no further liability
- in fact your maximum liability is $50 per card for unauthorized
charges. If you suspect someone of using your account number write
the issuer via certified mail. Only a letter protects your rights
under the law.

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