Recently, there were instances of a colleague reporting a series of quick transactions of fraud that were noticed in international transactions on the persons credit card. Many folks try to contact the toll free number, which can be time consuming and pain staking process and sometimes you don't get through.
What our colleague did was to quickly use the app and block the credit card, which resulted in future transactions being declined.
The best way to thus block a credit card is to use the app, which can be quick. Other ways to block the credit card would include net banking.
The problem today is that we are increasingly seeing a lot of fraud transactions being reported from international transactions. Some users of credit cards have found it hard to get their money back. Sometimes, the money comes back after a long time, after repeated follow-ups.
There is another thing that investors can also do. They should not choose international transactions, if they are not going to do one. This way they will prevent being vulnerable to international fraudsters.
One of the better ways to manage your credit cards is to reduce the amount of transaction limit on the credit cards. If you are unlikely to use the amount, it is best to reduce the limit. Some banks just give extremely enhanced limits for their cards and it is not advisable for investors to go for such large amounts.
All in all, we suggest three things for credit card customers. The first is to ensure that you block your credit card, in case you are not doing international transactions. The second is that you reduce your limit for credit card transactions and the third is that in case there are transactions that show fraud, use the app to bloc the card, which is a faster means.