Free Credit Card South Africa

The credit card industry in South Africa is a three-way system; credit card providers occupy a place between the store and the customer. In South Africa, the credit card industry has grown tremendously in the past 2 decades. While it has given individuals enormous purchasing power, it has made them an easy target for criminals and crime syndicates.

Fraud with free credit cards in South Africa exceeds over R50 million per annum, according to financial analysts. The major South African banks fall prey to this menace on a regular basis and lose more than R5 million per month.

The credit card industry in South Africa is a three-way system; credit card providers occupy a place between the store and the customer. In South Africa, the credit card industry has grown tremendously in the past 2 decades. While it has given individuals enormous purchasing power, it has made them an easy target for criminals and crime syndicates.

Fraud with free credit cards in South Africa exceeds over R50 million per annum, according to financial analysts. The major South African banks fall prey to this menace on a regular basis and lose more than R5 million per month.

Preventing Fraud with Free Credit Card in South Africa

Although credit cards are convenient, the repercussions of fraud can damage a holder’s financial reputation beyond repair. Credit card information can be fraudulently obtained through:

• Theft 
• Phishing
• Skimming
• Bogus web sites that capture your credit card details

Protecttion Against Fraud for Free Credit Cards in South Africa

Taking proper precautions and care of your credit cards, you can prevent the above from happening to you. Some precautionary steps you can take include:

• Never leave your cards unattended
• Destroy the cards that are expired
• Report stolen or lost cards immediately to the bank authorities
• Memorize your PIN and do not write that down anywhere
• Exercise caution when giving out credit card details to an unknown person, or web site
• Verify your card transactions with the receipts
• Keep an eye on your card during the transactions
• Do not give your card to someone else to use

Free Credit Card South Africa: Tips for Merchants

As a merchant, a card fraud in your business premises can seriously damage your reputation in the market. Therefore, to identify suspicious behavior in customers, look out for these warning signals:

• If a customer purchases an unusual amount of expensive merchandise
• If a customer makes random purchases
• If a customer doesn’t know what the card limit is
• If a customer signs the receipt in an awkward manner
• If a customer cannot provide any valid photo id
• If the signature on the card and the receipt differs
• If the card has been tampered