Tips for Using Your Credit Card...

The invention of new technology is always helpful to the humankind. Credit card is one of them. It saves you a lot of time and is safe to use as well. The fear of theft of your precious cash is also removed from your mind. However, the use of credit card also has a flip side too. The impending danger of misuse of your credit card by someone else cannot be ruled out. The RBI, from time to time, issues suggestions for the use of credit cards.

Keep in mind some of the tips to have your credit card only for you and enjoy the benefits as well. Of foremost importance is not having a photocopy of your credit card that may be accessible to others easily. One side of the credit card bears the Card Verification Value or the (CVV). This is used for online transactions. You can imagine what the consequences will be.

If there is no use of certain documents that has sensitive information, dispose them off immediately. Do not ever give the information to any anonymous caller. Refrain from clicking on links on the web that is asking for your card information. Share the information only with the company if the need arises. Report the loss of your credit card without a moment to spare.

Life Insurance Corporation of India will launch LI...

Life Insurance Corporation of India, India’s largest and oldest life insurance company, is planning to launch its much awaited launch of Credit Cards in the month of October.

The insurance company was earlier in talks with a firm but due to some reason, the deal could not materialize. At present, the company is negotiating with some another firm and is in its final stages. On the 52nd anniversary of LIC, Senior divisional manager Bhausaheb Gujar said:

In all likelihood, LIC’s credit card will be launched in October 2008.

Although, the company has yet not finalized the name of the new company, but might name it as “LIC Credit Cards” or “LIC Card Services”. LIC offers it policyholders with the service to pay their premium with LIC’s own credit card and will further reduce the transaction cost for LIC.

Earlier LIC was roped in with Corporation bank and Axis bank for taking premiums from those who hold there accounts there. The mode of payment was either through Internet, electronic clearing service, automatic teller machines (ATMs) of Corporation Bank and Axis Bank, online collection at Axis Bank branches or through LIC’s portal.
The LIC premium can be paid through SMS, but currently this service is available to only account holders of Corporation Bank.