Online transactions are well known for their convenience and practicality because they make life easier. However, providing the information of our credit cards in a web page to pay can have security compromises.
There is a risk for identity theft and fraudulent transactions with the credit card. So, people should be careful when they provide that information to pay online. There are some considerations to have in mind to use a credit card online safely. In this article, we are going to talk about the use of credit cards online.
Security risks when using a credit card to buy online
The major risk when you use your credit card online is the fraudulent transactions that can be made because online stores can elaborate scams. Those scams may not be detected by the platform of the credit card issuer or the card holder because if they have the information required for the transaction they will be able to use the card as they want.
The card holder will notice that when they check the balance and see the charge. However, if they don`t report it quickly the card issuer may not return the money.
Identity theft is other risk because scammers can take your personal information and use it to make transactions and any other things acting like you. That could put you in problem (even legal problems) because you will have to take the responsibility over the acts of other people that are acting like you. So, you should be careful about providing your personal information in websites.
But, nowadays credit cards are not normally a physical card; they can be in your smartphone thanks to the technology that allows you to process payments with your credit card if you associated with your smartphone. However, that is a risk because you are storing that information in a device that can be stolen and in a platform that may be hacked. That means that your personal information and the credit card information is under risk and you should be worried about it. Make sure to use a secure connection when you are storing that information in the phone and lock the access to the app with a code or your fingerprint.
However, since scams are a frequent threat credit card issuers and the platform are constantly monitoring transactions to prevent fraudulent transactions. In fact, many card issuers have mobile applications to monitor the activity in the credit card; verification steps to approve transactions and some others things that allow people to control the use of the credit card to prevent fraudulent transactions.
How to use the credit card online safely?
The first thing that you should have in mind when using your credit card online is to use it on websites you trust. Make sure that you are in the correct website by checking the URL because there can be fake websites that are going to stole your information. This is one of the most important things to do to prevent fraudulent transactions and identity theft.
The second thing to do is protect your devices (computer and smartphone) from viruses and hackers. Computers are particularly vulnerable to hackers that want to stole your personal information and the credit card information but that could happen in smartphones as well.
You should use anti-virus in your PC to prevent that but make sure that you are using a reputable anti-virus with a anti-spyware software that could protect you against those issues. You can have a VPN in your smartphone to protect your information and use secure networks like the WiFi in your house. Those are the most important things to have in mind when using your credit card online. But let`s see other tips
You should print your online receipts and compare the amount on it with the ones that is charged in the balance. They should be the same but if you see a difference make sure to contact your card provider to see if there is any problem with the security of your card.
Check if your credit card has zero liability protection because that will allow you to recover your money without any cost if you are a fraud victim. In some cases credit cards charge an amount for returning the transaction and that may impact your balance. Some credit cards may not return the money if you don`t report the fraud quickly and that is why you should check your balance frequently.
It is recommended to use a credit card and not a debit card to buy things online because if you are victim of a fraud then you will lose the money that you have in your account not the money that “you” borrow from the bank. And if they take money out of your account you may have to wait some time until you recover it. Credit cards offer more protection against fraudulent transactions than debit cards including mobile applications to monitor the use of the card.
In summary, there are some considerations to have in mind when you use your credit card to buy things online. However, the security levels and the ability to detect fraud should give confidence to make online purchases without major risks. But make sure that you follow every advice that protects you against fraud and identity theft. If you want to know more about it make sure to do your own research online and you will find more advices about how to be protected against fraud. You should know your rights and how to defend yourself if you ever suffer a scam.