The use of debit / credit cards for online and offline shopping is increasing day by day. These are also known as “plastic money”. Although debit cards and credit cards look alike, there are basic differences. To use a debit card, you need to deposit money in your bank or financial account in advance. That means it is prepaid. Credit cards, on the other hand, are postpaid – first use, then deposit.

Also, there are many differences between credit cards and debit cards Click here. Many people are hesitant about how to use a new debit / credit card. This post is for you to avoid any such problem. Here’s what to look for and tactics to help ease the way.

1. Activate a credit card or debit card

Whether it is a debit card or a credit card, it is not suitable for immediate use. It may take 1 to 3 business days for the card to be activated after it is issued. Once the card is active you can receive SMS or email on mobile (depending on the issuer).

However, it is best if you call the debit / credit card provider’s helpline to confirm the activation. All in all, the card must be activated at the beginning.

2. Collect PIN number

Debit or credit card PIN numbers will be required for purchases made through POS (Point of Sale) at ATM booths and stores. It usually consists of four numbers. This PIN number is confidential, which is not appropriate to share with anyone.

The card packet may have the PIN number printed on the folded paper. If not, a special helpline number will be provided to collect the PIN number by phone.

3. Find out the cost and terms of a credit card or debit card

Different conditions and charges apply to debit and credit card usage. For example, if your card belongs to the “MasterCard” network, you can use it at an ATM booth or POS or on a website marked “MasterCard”. If it belongs to the “Visa” network, then it can be used at the booth / pos and site marked Visa. So you have to be sure about this.

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Also find out the maximum amount of transactions that can be done each time or every day. Note the monthly credit card limit. Otherwise you may be harassed while paying the bill.

4. If necessary, get a passport endorsement

If you want to transact at a website or ATM booth / POS outside the country with a card taken from a bank / financial institution located in Bangladesh, then you have to endorse a certain amount of money against this card in your passport. It is a state rule.

If you do not have a passport, you will not be able to do this endorsement and such transactions. You can go to the debit / prepaid or credit card service bank or financial institution with your passport and get this endorsement there. The endorsement is usually for 1 year, but there is also a chance to renew it. There is a limit to the maximum number of dollars that can be endorsed, which you can find out when you go to the bank.

5. Secure account information

Securely keep a copy of the information you provided to your bank or financial institution when taking out a debit or credit card. If one day the card is lost, or for some other reason the card has to be picked up (replacement) then the basic information will be needed again.

. Be aware of credit card or debit card offers

Different companies offer discounts on debit / credit card payments. In addition, there are many credit cards with which the annual fee of the card is waived if a certain amount is transacted. Find out about these offers. You can find this information on the card’s helpline and on the provider’s website.

. Confirm card privacy

Debit and credit cards are also known as “plastic money”. Because, with these it is possible to withdraw money from your account or make transactions.

Card ATM / POS PIN number is not required for online transactions. The information printed on the card is sufficient, such as card number, owner’s name, expiration date and security number (also known as CVC number). So do not give your card to anyone other than a trusted person.

3 Learn the difference between a debit card and a credit card

. Credit card or debit card online account

If your card provider allows you to view balances, transactions and statements online, you can register for it. This will allow you to check the status of your card at any time.

9. Credit card or debit card is the first payment

Online payment is as easy as it is difficult. There are many sites that do not take a card in a hurry. Take Facebook and Digital Ocean, for example. They often want to know more about the card owner. I have seen this happen in the case of prepaid cards. This type of hassle is a bit less in the case of credit cards.

Before making your first payment, call your card’s helpline to find out if it is worth paying now.

If it is a foreign site, ask the helpline if the passport endorsement is valid on the card and if the available dollars are in your account. If everything is OK, check all the information on the payment page and pay.

In the case of big sites, such as Facebook Ad, once the information of a card is wrong, Facebook does not want to believe the correct information of that card again. So be very careful!

10. Where are you using credit card or debit card?

The biggest risk when shopping with debit and credit cards is the security of its information. Miscreants can steal your card information and then steal money from your account if they want.

So trusted site /POS It is better not to pay with the card in any anonymous place. Be aware of this.

We hope you find these tips useful. If you want to share any more tips in this regard, please let us know in the comments.

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