When you open a Bank Account, banks provide a welcome kit. It includes banking products like a passbook, chequebook, and Debit Card. You need to apply separately for a Credit Card. These items are given based on your selection. The card you get lets you conduct transactions with ease online. The most common use is cash withdrawal which you can do via ATM or purchasing any product online.

Once you explore the usage, banking is a breeze. Before that, understand the best ways to use a Debit or Credit Card to avoid risks and mishaps:

Understand your habits

While these cards offer easy access to funds, it also gets you in trouble if not used wisely. Therefore, you want to make sure you use your money thinking about the balance in your account. If you spend lavishly without second thoughts, then stick with cash as these cards run out of funds efficiently and may even lead to penalties.

Track spending

If you wish to use your Credit or Debit Card, then an intelligent way to ensure you do not overspend keeps a tab on your payments. It helps detect any suspicious or fraudulent activity other than tracking your spending habits. Ensure to make it a custom to stay safe. This becomes easier with message notifications. If you are more of an online user, you can download bank statements monthly for security purposes.

Pay cautiously

Avoid randomly using your Credit or Debit Cards for purchases. Before opting in, take the time to check the authenticity and credibility of the seller or merchant. This saves you from potential threats and misuse of sensitive information. If possible, avoid using your cards altogether for online shopping. Instead, use mobile wallets that do not store your card information.

Report thefts

If you lose your card, report it and get it blocked. This ensures it is of no use even if it gets into the wrong hands. You can then reapply for a Debit or Credit Card and get it quickly.

Check the limitations

Banks have transaction limits, beyond which you may get charged a penalty. Make sure to check this before each transaction if you want to avoid the penalty. This is primarily applicable when you use Debit or Credit Cards, make large payments, use certain specialised services, etc. Also, check if the bank holds up your funds before buying gas, making hotel reservations, etc.

Be aware of your PIN

You need to create your passcode instead of sticking with the one provided. Make sure to use a complex PIN that is unique and easy to remember. You can also change it frequently. Never share it with anyone under any circumstances.