The issue of credit card safety is paramount for many people in deciding whether or not to make a purchase on the internet, but are the concerns justified and what can we do to protect ourselves properly?
Is it safe to use my credit card online?
Firstly, the misleading part of this question is the word 'online'. When you hand over your credit card at your local DIY shop you are giving your credit card and verification numbers along with a copy of your signature to a complete stranger. There is also the risk that this information can be obtained by potentially anyone who works there and can subsequently be used fraudulently. The issue of shopping safety is therefore not limited to online transactions.
Online and mail order credit card fraud in 2005 represented 42% of all credit card fraud (source: Card Watch) and although this type of fraud is still rising it serves to demonstrate that card safety is not just an 'online' problem.
Credit card companies are working very hard to reduce and detect fraud, due in part to the fact that they insure your liability against it. Most major cards will offer forms of protection against fraud and identity theft and you should check the terms of your agreement with them to see their policy on this.
This type of protection coupled with some of the tips of safe online shopping listed on this site will answer the question; 'Yes, it is safe to use my credit card online'.
Tips to stay safe with your credit card;
- Check the policy of your credit card provider to see what protection they offer against online fraud.
- Make sure that you only provide personal information to 'secure sites'.
- Never respond to e-mails or other requests for your card details. Legitimate credit card companies will never do this.