6 Tips on How to Protect Yourself From Credit Card Fraud
This article originally appeared on ValuePenguin Credit cards offer the most convenient way to pay for your shopping and for everyday transactions. In addition to convenience, your credit card gives you several other advantages. If you put in a little effort into selecting a credit card that best meets your needs, you can earn significant amounts as cashback benefits and rewards. There is also the attraction of a free credit period. It is possible to pay for your purchase several weeks after you make it. Many Singaporeans value the flexibility that a credit card gives them. When they receive their billing statement they can opt to pay only the minimum balance and “rollover” the remaining amount. Of course, using your credit card in this fashion will require you to bear a certain interest cost. According to Monetary Authority of Singapore data, there are almost 8 million credit cards in circulation and the rollover balance is a massive S$5.3 billion. Considering that the average interest rate on credit cards is about 25% in Singapore, this could be costing consumers hundreds of millions of dollars every year. However, that’s not the only costs of using credit cards: credit cards are vulnerable to [...]
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