Today if you lose your credit card and this thief swipes your card even before you realize that you have lost it and actually call your Bank’s customer care then your bank may give you a tough time convincing that it was not you who swiped it! Hence you need to be careful with your credit card as much as you would be with the cash of the same amount of the credit limit on your credit card 🙂
But how safe do you think are your online credit card transactions is? You will be amazed to know that after the introduction of an extra level of security from August 1st 2009, the online transaction safety has been given a much needed uplift. Both VISA and MasterCard have introduced an extra password layer for all online credit card transactions. From VISA its called Verified by VISA and from MasterCard it’s called MasterCard SecureCode. You need to sign up to do any online transactions at one of these services depending on which Credit Card you hold.
This enable you to key in your password before every transaction that goes through your credit card. Hence even if there is an unauthorized attempt of a online transaction, it will not go through. Hope it encourages you to do more online transactions and enjoy the conveniences of life!