If you have ever been in a position where your credit card was reported as blocked, whether in the middle of an online transaction or in a merchant establishment, you would have felt a tinge of embarrassment. How do you prevent this from happening again?
The most effective way to do that would be to understand all the different reasons why your credit card could have got blocked. Knowing this will help you take the necessary steps to avoid this happening again.
Here are the top five reasons why your credit card gets blocked:
Unusual purchase patterns: Banks sometimes block credit cards when the system picks up on unusual purchase patterns. While this is a feature designed for your protection, so as to prevent fraudulent use of the card, it can be an inconvenience as well when the transaction has been carried out by you.
For example, if you usually use your card only for domestic purchases and suddenly use it on in an international location, your card could get blocked because the system thinks it's a fraudulent transaction. Another example is if your credit card transactions have not exceeded Rs.10,000 every month in the entire history of your credit card transactions, but suddenly you spend Rs.45,000 on it, the system could classify this as a fraudulent one. In such cases, it is important to call the bank's helpline number and request the card to be unblocked.
Now that you know the most common reasons why credit cards are blocked, you can take the necessary steps as outlined above to prevent this from happening.
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