Tips for Credit Card Security
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It’s getting hard to keep track of the number of businesses that have had their customer information hacked over the past couple of years. Most of us heard about the events at Target because so many people ended up being affected. And how could we forget about Ashley Madison? Because of the nature of the business, it was talked about on the news for weeks.
Credit card theft happened to my family just a few months ago. One evening when I came home from work there was a box on our front porch and it happened to be an industrial welder. If you know anything about my wife and I, you know that we are not going to be welding anything.
After a few calls to the retailer, we found out that our credit card information had been stolen on a recent trip to Detroit. Luckily for us, the criminals mixed up the shipping address and sent it to us instead of themselves. A couple of quick calls and a refund was being issued and our account was being closed.
At a time when so much of our day-to-day lives happen online, it’s important that we keep both ourselves and our information safe. The last thing that we want is for our credit card or personal information to end up in the wrong hands.
Before you pull out your plastic, make sure you consider these tips for increasing security.
Treat Your Credit Cards Like You Would Cash
Let’s face it, most people toss around their credit cards like they are nothing but a piece of plastic. While that might be true on the surface, they hold so much more value. How many times have you gone out with your friends and opened a tab in a bar with your credit card? Have you ever thought about your card just sitting behind the bar not being watched over? You wouldn’t open a bar tab with a stack of cash, so you shouldn’t do it with a credit card either. You never know what can happen to your information while your card is not in your possession for an extended period of time.
Only Buy from Trusted Websites
When we go shopping, we tend to stick to the stores that have clothes that we like and to retailers that we feel comfortable with. The same should be true for when you’re shopping online. Only shop from stores that you know and trust. Just because a website is selling something for $5 less doesn’t always mean you should jump on the deal.
Before you do anything, make sure the website is secure. Does the website's URL begin with https or is it http? HTTPS is a common security protocol on the internet. It is the first sign to how secure your future transaction might be. Does the website have a logo from a trusted online security firm? Two of the most common are Verisign and McAfee. In addition, always make sure that the payment page is asking for the three-digit security code on the back of your credit card when taking payment.
Just Because It’s Easy Doesn’t Mean It’s Safe
The next time you make a purchase online and the website asks you if you want to save your payment information, just say no. I realize that you might be tempted because it will make things much easier the next time you go shopping, but it’s not worth it. By storing your information with a retailer you are trusting them to keep your valuable information safe. Is that a risk you are really willing to take?
Make Sure Your Connection is Private
Most of us don’t think twice about when we shop. If we see something that we want, we buy it. Most of the time we do not think about whether what we are doing is safe or not. Before you make your next purchase online, make sure you are doing it over a secure connection. Avoid public Wi-Fi or other connections that might not be secure. By waiting until you are home, you might also stop yourself from making an impulse buy.
Phishing Scams Are Real and Dangerous
If you think you are out of the woods once your purchase has been made, then you are mistaken. Phishing attempts are common and they can be very believable. One of the most common scam attempts happens after you make a purchase from a retailer. You will receive an email claiming that they need more information before processing your order. Typically, they will ask you to resubmit your credit card information and give the last four digits of your social security number. This is something that will never happen with a legitimate purchase. If a retailer really needs to get ahold of you for more information, then they will ask you to submit your information through a secure encrypted page on their website.
The Bottom Line
Most of us might shop online without even thinking that something bad could happen. The truth is that credit card and identity theft are a serious issue and something that you do not want to be a victim of. The next time you are shopping online make sure you follow these tips to keep yourself secure.
First published , last updated
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ABOUT THE AUTHOR
Ashton Stewart is a Denver based freelance writer specializing in travel, credit cards and personal finance. With nearly 10 years of writing experience his work has appeared in many of the industries top publications. He holds a bachelor of arts degree in economics. He also runs OneSmartDollar.com. When not working Sean enjoys spending time with his wife, daughter and dog Charlie and can frequently be found on his bike or snowboard.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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