5 questions a newbie cardholder asked me — and …

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Can a credit card issuer help you manage your credit card account?

Actively managing your credit card account can save you money, improve your credit scores and help you manage your overall financial life. If there's something your credit card issuer can do to make things easier, it never hurts to ask. You might be surprised at what they're willing to do to give you a little help. ...

What is a 'hold' on a credit card?

A “hold is when a merchant effectively tells your bank or credit card company to set aside a certain amount of money for an impending purchase. It’s most frequently seen at restaurants and hotels, where customers’ tips or add-on charges can’t be predicted in advance. The answer to this question depends on the merchant type. ...

What happens when a customer swipes a card?

At the time of purchase, when a customer swipes their card, the merchant is supposed to compare the signature on the card with the signature on the receipt. In the event that there is a discrepancy, or if the back of the card is unsigned, then merchants are instructed to ask for a photo ID to compare with. ...

Should I write'see ID' on my Card?

Writing the words “See ID” on the back of your card doesn’t actually help you. Here’s how it breaks down. In general, merchants can check your ID, but usually won’t. MasterCard says a merchant “may request but not require” a customer to show ID, and American Express simply instructs merchants to “verify that the customer is the Cardmember.” ...

Is it illegal to write'see ID' on a credit card?

In fact, in some states it is illegal. 3. Writing “See ID” on your card does not help, as your card is technically not valid unless signed, and few merchants now check signatures anyway. Editor's Note: This article originally appeared on Consumerist. ...

Can a merchant ask for a cardholder ID?

It says, “Although Visa rules do not preclude merchants from asking for cardholder ID… merchants cannot make an ID a condition of acceptance. Therefore, merchants cannot… refuse to complete a purchase transaction because a cardholder refuses to provide ID.” Based on that, Visa recommends its merchants not spend time asking for ID. ...