Outlook Money
Young people who use credit cards, along with new users, need to handle these financial products with additional care.
Credit card spending surged to a seven-month high in August 2025, reaching Rs 1.91 trillion - up 13.7 per cent from Rs 1.68 trillion in August 2024, according to industry data. This makes caution a secondary nature, especially for new and young users to avoid the downsides of having a credit card.
A credit card functions as your bank password. Only you are allowed to use it. Your card remains non-transferable to any family member or friend. Your financial security faces danger when you hand over your credit card to someone you do not know.
Keep your password away from the reach of unknown people. Protect all your online login credentials and passwords, together with your card information and its CVV code. The exposed data will lead to various forms of abuse.
Most credit card companies provide the facility to set the transaction limit on your credit card through their app or online platform. The system allows you to control domestic and international payments.
Review your credit card statement on a frequent basis to detect any unauthorised charges. Your card company allows you to report these transactions so you can fight against the unauthorised charges.
Tokenisation protects credit card information through a replacement system that assigns unique codes to secure data from unauthorised access.
Your card issuer needs to receive immediate notification when your card data becomes compromised or fraudulent transactions appear so they can block your card. You can also block your credit card through your credit card’s mobile app to avoid any further harm to your money