While using credit card offers you convenience and rewards, there are certain situations that using your credit card for payment may not be the best option.
In this article, we are going to highlight some circumstances when swiping or entering your credit card for payment could pose you risks so it’s advisable to be vigilant to avoid your potential pitfall.
Times you Should Not Use your Credit Card for Payment
1. The website address does not start with “HTTPS”
Make sure to see the HTTPS at the beginning of the address you are making payment on, as this signifies that the website is secure. If there’s no “S” in the URL, try to use third-party system instead such as PayPal so your credit information will still be protected.
Read: Different ways to Pay Credit Card in the Philippines
2. If you are Responding to an Email
Well, there’s a actually a technique called ‘phishing’ or ‘spear phishing’. This modus operandi involves the use of emails that are designed to extract your credit card number for an unauthorized purchase. As such, before you click on any link, check for phishing clues such as spelling mistakes, bizarre use of English, and logos that seem off.
3. The Online Merchant Doesn’t Have Reviews or Previous Listings
If you saw products on any type of marketplace that have no previous listings, no online reviews, no shared experience from customers, or no social media accounts, don’t hand over your credit card. Look for contact information on the website such as phone number and the address before you make any purchase.
4. If you are Using Public Wi-Fi when Purchasing
Whether the website you are purchasing from is secure or not if the internet connection such as public internet or any internet without password protection is not reliable, it may pose risks to your personal information including your passwords, personal data, and credit card information. These details might be read by anyone who are attempting to enter through the network.
5. If the Device you are About to Swipe Through your Credit Card is Bulky, and Exposed on Plastic Wires
There will be times when point-of-sale devices have been tampered with including the setup of “skimmers” which steal payment card data. If this happens, call out employees and law enforcement.
While credit cards can offer you numerous benefits, being mindful of when to use them is crucial for maintaining your financial health.
Read Also: No Annual Fee Credit Cards in the Philippines
By avoiding credit card payments in situations where you cannot afford to pay off the balance, for small purchases, or when fees are involved, you can cultivate better spending habits and avoid the stress of debt.
Making informed decisions about your payment methods is key to achieving your long-term financial stability.