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What is the weakness of credit card?Will it being use by others without our acknowledgement? will... |
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Date:
August 16, 2007, 2:47 am |
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What is the weakness of credit card?Will it being use by others without our acknowledgement? will credit being transferred by others? How to avoid this from happen?Do the owner card have limit in withdrawing credit/transferring credit? |
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Answer:
Issue of safety is one of the major concerns of all credit companies. The banks continuously invest large sums in developing modern technologies and procedures that will prevent identity theft or other credit cards frauds from happening. Of course there is no legal way that someone else can use your card without your acknowledgement. You are responsible to keep your card in a safe place and not to reveal your info (the number of card, the 4-digit CVV number) to other people. This information is absolutely confidential. If someone has stolen your card or you've lost it the bank will immediately block your account. Some companies even use additional protective tools - for instance, MasterCard has introduced the so-called personal security code, that is available only to the bank and the customer and that the customer has to enter when purchasing online. It is analogue to the PIN code at the ATM. Talking about the limit of withdrawing/transferring, of course it exists, and is generally defined by the customer's score, history, annual income and terms of the card. The limit is defined individually in each case. |
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