What is the importance of a signature on the printed slips generated when one uses a credit card?
Reason for some merchants asking you to sign is to protect their interests in case of any dispute at a later date
What is the importance of a signature on the printed slips generated when one uses a credit card?
Rajeev Deshpande, Pune
These days when using credit cards you need to enter the password on the card swiping machine for the transaction to go through. However, some merchants may insist that you sign the printed slip as a precautionary measure at their end. The reason for them asking you to sign is to protect their interests in case of any dispute at a later date. For you as the cardholder, it is important that you keep record of transactions you have made using the card. These days as card details are linked to your mobile phones, you are most likely to receive an SMS alerting you about a transaction on your card. In case you have not used the card, the update is a good option to know that someone is misusing your card.