card verification value

3 Smart Reasons To Update Your Information Regularly

As a credit card owner, it’s your responsibility to update your contact information regularly to the bank. For instance, you have a new mobile number, you have relocated, or your email address to the bank’s record is no longer active.

Despite your hectic schedule at work or on your business, here are the smart reasons why you should update your contact information.

1. Receive reminders and advisories
Banks send your SOA or state of account simultaneously on both of your mobile and email, that’s why it’s essential to update your information to them. If you don’t receive the SOA on your phone or email, there would be a tendency that you have to pay the penalty fee since you were not able to settle your payments on time.

2. Keep protected
In 2016, there are almost 15.4 million people who were, unfortunately, become fraud victims. In every website we visit in a day, we place ourselves at risk, especially during online purchases or transactions. When buying online, it does not require us any physical credit card, it only asks for CVV (card verification value) code to push through, and that’s he opportunity of fraudsters to use our credentials.

As the security feature of the bank, they will send you a message alert if there is auspicious act using your credit card. As soon as you get the alert, you can call the bank and demand to freeze your card for a future transaction by the fraudsters.

3. Exclusive promos
Banks usually send exclusive promos for card owners in which other people who do not have the card like yours are hoping for. You can always ignore the promos when you don’t need it, but it’s actually helpful and beneficial if you are in dire need to get exciting discounts when shopping, dining and even when you travel. Updating your contact information is easy, it’s better to be safe than sorry.