YOUR CREDIT CARD
A Credit Card is an alternative to physical cash. Credit cards are issued by
banks or companies to individuals and in some cases to companies. The card
enables the cardholders to purchase goods and services from Merchants by borrowing
against your line credit with the credit card company and to make monthly
payments on the outstanding balance.
Sign it : Sign your new cards as soon
as you receive it, so that no one else can use it.
Watch it : Make sure your card is always
within your sight when you make a purchase and the sales person returns your
card, sales draft and store receipt after the transaction.
Draw it : Draw a line through the blank
spaces above the total or circle the purchase amount on the sales draft when
you sign your sales draft.
Keep it : Keep all your sales drafts for
your transactions. Even at a self service station.
Verify it: Keep copies of you sales drafts. Verify
amount purchased with the sales drafts for the month against your card statement. Report
immediately if there should be any discrepancies /error.
Report it: If
your cards are stolen/lost, call your Card Center immediately.
Record it: Make a list of your card account
numbers and telephone numbers of your Issuer's Card Center, in case your cards
are stolen/lost. Keep the list in a safe place.
Pay on time: Make your credit card payments
on time. Be careful to avoid late payment charges and penalty rates.
Take care of it: Keep your card away from
heat & direct sunlight, magnetic stripes should not be scratched ,placed
back to back of two cards or near any magnetic devices ( i.e. Radio, television, etc.).
Lend it: Please
do not lend your card to anyone, even to a friend or family member. Credit cards
are not transferable.
Give it: Never
give your account number over the phone unless you have validated the company
or individual you have speaking with.
Never write or keep you PIN number in a purse or wallet-memorize
it and then destroy the PIN notification.
Leave it out of sight : Never leave your
cards unattended, out of your sight or in visible sight of others. Remember
that they are the same as cash.
it: Make sure your card (s) is always
in your possession, check periodically to confirm.
Over-spend: It is important to budget accordingly to avoid overspending or
to make ends meet.
What should I do if my credit cards are lost or stolen?
Phone your Credit Card Center and report stolen/lost card immediately. Your
monthly billing statement will list the phone number for reporting lost cards. Be
sure to get the name of the person you talked to. The Card Center will cancel
your card so no unauthorized charges can be made on it.
Some Credit Card Centers may require you to make a written confirmation and
/or police report of the stolen/lost card. Written confirmation should include
your name, contact number, address, account number, the date you believe the card
was stolen/lost ,and the name of the person you spoke to when you reported the
stolen/lost card to the Card Centers. Attached the necessary documents to be
forwarded to the Card Centers.
do I do if I disagree with a charge on my credit card statement?
You should call your Credit Card Center to seek for further clarification
on your statement. You can raise the dispute in writing within the stipulated
time/days as stated in the Card Center's Terms & Conditions to the Card
Center with regards to improper charge stating the following information:
- Your name and account number
- The dollar amount you dispute and information as to when it was charged
and the name of the merchant
- A statement of the reason for your dispute
Card Centers are
required to investigate and report back. Seek the Card center's advice on
whether payment needs to be made on the disputed amount.
Can a merchant charge
me more if I use a credit card?
A merchant may charge you more for using a credit card. However the merchant
must disclose to you the additional charge before the sales is made. A merchant
can also offer a discount to customers who pay cash.
This information is published
by the Association of Banks in Malaysia as a service to the customers to promote
general awareness of the bank's products and services. Customers are advise to
seek the assistance of their respective banks as products and services may vary.