Credit Card Misuse

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How to Insure Yourself against Credit Card Misuse

Credit Card Misuse

With the growing use of plastic money, the life has become simple; it has also increased the risk factors involved with it, like misuse of it by fraudsters.

The use of debit cards and credit cards are so simple and easy. With these cards, there is no need to carry money with you wherever you go. With the increasing risk of fraudsters, you cannot avoid using your card. Reserve Bank of India has made such factors for its verification.

Measures to safeguard yourself from Credit Card Misuse

The various services and products available in the market help you to choose the type of Credit Card you need at an individual level. The central bank of India has come up with the scenario of zero liability policy.

So there are some methods you can safeguard your plastic money in this physical world.

  • Now the cards are available with the facility of zero liability, which will safeguard your cards from fraudsters. With the various options available among the card, you can choose the one best for you. The facility of zero liability come with high end cards and area associated with some cards only like HDFC Platinum cards, ICICI Lombard etc. for this facility the card holder doesn’t have to pay anything extra.
  • In-built insurance are beneficial for a customer if they don’t carry multiple cards with them. This facility also comes with a membership fees, of RS 6000 and Rs 2,000 in case of platinum credit cards. This facility doesn’t stand up with the insurance of your card. This is only to kick in death or disability of the card owner.

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