After receiving a new credit card, there are a few things you should do.

TtThe use of debit and credit cards for online and physical purchases is on the rise. “Plastic money” is another name for these. Although debit and credit cards appear to be the same, there are some key differences. To use a debit card, you must first make a deposit in your bank or financial account. That is to say, it is pre-paid. Credit cards, on the other hand, are postpaid, meaning they must be used before they can be deposited.

Many consumers are unsure how to operate a new debit or credit card. This article is written to help you avoid such a situation. Here are some things to keep an eye out for, as well as some strategies to aid you along the path.

1. Get a credit or debit card activated.

It is not suited for instant usage, whether it be a debit card or a credit card. After the card is issued, it may take 1 to 3 business days for it to be activated. You can receive SMS or email on your mobile after the card is activated (depending on the issuer).

However, you should confirm the activation by calling the debit / credit card provider’s helpdesk. In general, the card must be triggered from the start.

2. Obtain the PIN number

For purchases made through POS (Point of Sale) at ATM booths and businesses, debit or credit card PIN numbers will be required. It is usually made up of four digits. This PIN number is private, and it should not be shared with anybody.

The PIN number may be printed on the folded paper in the card packet. If this is not the case, a separate hotline number will be offered for obtaining the PIN number over the phone.

3. Determine the price and terms of a credit or debit card.

Debit and credit card usage are subject to different terms and fees. For example, if your card is part of the “MasterCard” network, you can use it at a “MasterCard” ATM or POS, as well as on a “MasterCard” website. If it’s part of the “Visa” network, it can be used at Visa-branded booths, points of sale, and websites. As a result, you must be certain.

Also, determine the maximum number of transactions that can be completed at any one time or on any given day. Take note of the credit card limit for the month. You may be harassed if you do not pay the charge

4. Obtain a passport endorsement if necessary.

If you wish to use a card from a Bangladeshi bank or financial institution to transact on a website or at an ATM booth or POS outside the nation, you must endorse a specified amount of money against the card in your passport. It’s a state regulation.

You will not be able to execute this endorsement or other transactions if you do not have a passport. You can receive this endorsement by taking your passport to a debit / prepaid or credit card service bank or financial institution. The endorsement is normally for a year, however it can be renewed if necessary. The greatest amount of money that can be endorsed has a limit, which you can find out when you go to the bank.

5. Keep account information safe.

Keep a copy of the information you gave your bank or financial institution when you applied for a debit or credit card in a safe place. If the card is lost one day, or if the card needs to be picked up for some other reason (replacement), the basic information will be required again.

6. Be wary of solicitations for credit or debit cards.

Various businesses provide discounts for debit and credit card payments for their services. Furthermore, many credit cards have annual fees that are removed if a particular amount is spent on the card. Find out more about these deals. This information is available on the card’s helpline and on the provider’s website.

7. Confirm the card’s privacy.

“Plastic money” refers to debit and credit cards. Because you can use these to withdraw money from your account or conduct transactions.

For online transactions, the card ATM / POS PIN number is not required. The card’s printed information, such as the card number, owner’s name, expiration date, and security number, is sufficient (also known as CVC number). As a result, only give your card to someone you know and trust.

8. Online account using a credit or debit card

You can register for it if your card provider allows you to check balances, transactions, and bills online. You will be able to check the status of your card at any moment using this method.

9. The first payment is made with a credit or debit card.

Online payment is both simple and complicated. Many sites will not accept a card if you are in a hurry. Take, for example, Facebook and Digital Ocean. They frequently want to know more about the person who owns the card. This has happened to me before with prepaid cards. When it comes to credit cards, the hassle is a little less.

Before you make your first payment, call your card’s customer service number to see if it’s worth it to pay now.

If it’s a foreign site, check with the customer service line to see if the passport endorsement is still valid on the card and if you have enough money in your account. If everything looks good, proceed to the payment page and double-check all of the information.

When it comes to large sites like Facebook Ad, once the information on a card is incorrect, Facebook will not trust the proper information on that card again. So be extremely cautious!

10. Where do you use your credit or debit card?

When using debit or credit cards to shop, the most significant risk is the security of the information stored on the card. If criminals want to, they can obtain your card information and use it to steal money from your account.

As a result, it is best not to pay with a credit card in any untrustworthy location or POS. Take note of this.

We hope you find these pointers to be helpful. Please let us know if you have any further suggestions in the comments section.

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