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Protecting Your Credit Card Number From ID Theft Online
It is becoming increasingly convenient to shop, make travel reservations and pay bills online, and because of this convenience more and more people are taking advantage of the online marketplace every day. Yet every time consumers type in credit card information online, they leave themselves susceptible to credit card fraud and identity theft.
Every year, millions of credit card numbers are stolen from online hackers. While many of these situations are caught early and diffused rather quickly, some victims of credit card theft do not fare as well and end up with massive amounts of debt.
Similarly, some online hackers are able to get more than just a credit card number; your identity is at risk to be stolen any time you enter your social security number online. Identity theft is often more difficult to fix than credit card theft, and it is also often more ruinous for its victims. An identity thief may manage to do all of the following in your name:
- obtain credit cards and loans
- open utility accounts
- rent an apartment
- get a cellular phone
- purchase a car or a home
It is clear that there is a real threat to your credit card and personal information online, but there are ways to protect yourself against credit card fraud and identity theft.
Hint #1: Only Enter Credit Card Information on Secured Pages
Use good judgment when entering credit card and personal information online. You can spot encrypted sites by looking at the address bar at the top of your browser window. If it starts with “https:” it is a secured site (the “s” in “https:” stands for secure) and should be safe. Another way to tell if a site is secured is to find a padlock icon at the bottom of your window. The “https:” and padlock are indications that you can safely send your credit card information with encryption.
If you want even more information on how your credit card information is being protected, you can often read the site’s security certificate (proof of the site’s identity) by double-clicking the lock icon. The name following “issued to” should match the site you are on.
Hint #2: Use a Temporary Credit Card Number When Making Purchases Online
In light of the surge in credit card and identity theft, many major banks offer an online feature that allows you to use a temporary credit card number for online purchases. This feature is simple and easy to use. When checking out online, open up your online bank account and click on the feature (Bank of America’s is called “Shopsafe,” for example). The feature will ask for a credit limit and expiration date, and will randomly create an account number with that information. You can enter this fake, safe information into your online checkout, and the number can only be used at that store or business.
Hint #3: Use Paypal
Another way to make online purchases without exposing your credit card number to the seller is to use Paypal. While Paypal will default you to paying out of a savings or checking account, you can link your credit card to your Paypal account with a few extra steps. Many small businesses only allow Paypal for payment, so it may be worth it to sign up for an account for most of your online shopping.
Hint #4: Help Your Passwords Help You
If you shop or pay bills online, you are probably already familiar with entering your password whenever you submit a payment electronically. While passwords are designed to help protect your credit card and personal information, they are still susceptible to being stolen or hacked. To keep your password protected, take the following precautions:
- Change your password often—Many websites recommend changing your password every six months to a year
- Use different passwords for different accounts—Using different passwords makes it more difficult for a hacker to enter into multiple accounts, which may save you a good deal of money.
- Do not allow your computer to store or save your passwords—The passwords are usually saved in one file on your computer system that is easy to hack into if your computer is not protected by a firewall.
- Choose a difficult password—The longer and more complex a password, the more difficult it is to hack. You should use both numbers and letters, and make the password a minimum of eight characters.
If You Are A Victim of Online Credit Card Theft
Even after taking increased security measures and precautions, you may still become a victim of online credit card or identity theft. If you discover that your credit card has been used without your knowledge, be sure to follow up with these steps to alleviate any possible damage to your credit:
1) Close the affected accounts immediately.
2) Change the passwords on all of your online accounts.
3) Place a fraud alert on your credit reports by contacting Equifax, Experian and TransUnion.
4) Contact the Federal Trade Commission (FTC) to file a complaint, and also file a complaint with the local police precinct.
5) Record and save everything regarding the situation.
About the Author:
Paul Basco Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card Offers online. At GettintingaCreditCard.com, we offer credit cards for bad credit, low apr credit cards, instant approval credit cards and much more.
This article may be reprinted in accordance with the GettingaCreditCard.com Reprint Requirements
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