Bank issue card card to user who had maintained balance in bank account very well as well good bank transaction. But their are lots of crimes we head usually in news everyday. Today we will talk about your credit card that’s not safe for a reason take look complete information.
Today, a lot of people use credit cards as it serves as emergency cash when you run out of money. Availing credit card is not very difficult when compared to the past. Earlier, credit cards were issued only to those citizens whose income was above Rs 25,000 a month.
Now, credit cards are issued to people who get a salary between Rs 15,000 to Rs 25,000 a month.
According to the Reserve Bank of India, in June 2018, a total of 39.37 million credit cards were in operation, with the addition of 0.76 million cards. Credit card usage increased after the Demonetization Government changed currency notes of Rs 500 and Rs 1000 notes.
A credit card offers various advantages like it helps to convert the high-value purchases into affordable EMIs. By using the credit card, you get various offers and cash backs.
While credit card has various advantages, it also has drawbacks. If you do not use your credit card wisely, you can fall you in the debt trap and it will have a bad impact on financial health. This happens when you don’t use your credit card wisely.
There is also a scenario where you can fall into a debt trap, even without swiping your credit card. Wondering how you can fall into a debt trap without spending with a credit card?
This happens when you not careful with your credit card and fraudsters misuse it. Fraudsters steal your credit card and other data to make money. Here we will discuss phishing and how it is used to steal money from your credit card.
According to recent reports, India is among the top 4 countries targeted by phishing. The other three countries most targeted by phishing are Canada, the US, and the Netherlands. Phishing attacks accounted for 50% of overall fraud attacks in the third quarter of 2018.
What is phishing?
Phishing is a method used by cybercriminals to steal your personal information just by posing as a genuine entity. The information which fraudsters target include usernames, passwords, credit card details, bank account details, and net banking details.
Example of phishing emails are those which state that you have won a lottery of Rs 50 Lakhs, you are eligible for an interest-free loan, 50 Lakhs has been deposited in your bank account and so on. These are tricks used by fraudsters to entice people to click on the link provided. But, you must never trust any of these emails and offer personal information.
How to identify phishing?
1. Embedded links
Fraudsters send phishing mails along with the embedded links and you will be asked to click on that link. These links lead you to the fraudulent websites. In case you feel it’s a mail sent by fraudsters, you can check the genuineness of the URL by typing that URL in a new window. In case the hyperlinked address is different from the one shown, it is a phishing email.
2. Request to provide personal information
No banks or financial institutions will ask you to provide personal information through mail or over a call. In case you receive any emails asking you to provide card details, it is sent by fraudsters to steal your money. So, make sure you do not provide card information to anyone to avoid risk.
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