Using Credit Card On Internet

From Tip Sense

See also: ATM Safety Tips, Credit Score Tips, Getting Out of Debt, Personal Income Tax Filing, Using Credit Card On Internet,Personal Finance Tips,Money-saving Tips

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1 General Tips
2 In case you have been victimized
3 Preventing fraud
4 Sources
5 Authors

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General Tips

With the internet’s ubiquity, many people are finding it extremely convenient to shop online.
But doing so carelessly opens up the potential for fraud and identity theft.
To protect yourself and your money, be a smart shopper by adhering to the following tips:

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Know your seller

Shop only at sites you know and trust.
Make sure the seller has a secure transaction system before giving them your credit card or any other personal information. *Look for a small lock at the bottom of your browser screen—this is the secure transaction symbol.
Buying internationally increases the risk, so be extra careful when purchasing anything outside your country.
Many sites offer a profile of sellers based on comments from other buyers.
Be aware that positive comments could be planted by the seller. Get his or her phone number and mailing address (not a P.O. box).
If it's a business, contact your local or state consumer protection agency and the Better Business Bureau for more information about it.

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Know what you’re buying

This may seem obvious but make sure nothing extra is tacked onto the transaction.
Also look for details about terms of purchase and whether there’s a warranty.
Also understand extra costs such as shipping. Reputable sellers will give you all the costs, in your own currency, before you enter your credit card details.

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Protect personal information

Only provide personal information when you know the transaction is secure.
Always change your password regularly.
If you think you’ve entered your details on a fraudulent site, contact your credit card company immediately.
Try to determine the value of the item before bidding.
Read the listing carefully, looking for words such as "refurbished," "close-out," "discontinued" or "off brand," especially when shopping for computer gear or electronic equipment.
Be particularly cautious of claims about collectibles.

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Read and keep records

Be sure to print and save the confirmation page and contract terms.
Store them in a secure place.

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Secure your computer

Make sure you have a firewalls and the latest anti-virus software installed.
This will guard against unwanted access to your computer.
Never open spam email messages and never walk away from your computer while mid-way through a transaction with your personal details.

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Escrow Services

Consider escrow services, in which a buyer places money in the custody of a third party.
The money is paid to the seller once the buyer receives and approves the merchandise.
The buyer typically pays a fee based on a percentage of item's cost.

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In case you have been victimized

Seek dispute resolution. EBay, for example, uses Square Trade, an in dependent third party that provides a trained mediator to resolve disputes. The process takes about a week. The service is free for items on eBay that sell for at least $100.
Request the seller's user-registration information from the auction site.
Attempt to contact the seller by phone or by mail. Send an e-mail to the seller that specifies what you expect and a deadline. Do not attack the seller's character.
Consider using feedback forums.
Post negative feedback in seller's file. State only the facts.

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Preventing fraud

Sign your card -- as soon as you receive it! (Obviously, this is only as effective as the clerk who's checking it.)
When you use your card at an ATM, enter your PIN in such a way that no one can easily memorize your keystrokes.
Don't leave your receipt behind at the ATM.
Your PIN and account number from a discarded receipt could make you vulnerable to credit-card fraud. Also, don't throw out your credit-card statement, receipts or carbons without first shredding them!
Never give your credit-card number over the telephone unless you initiated the call.
Even when you place the call to a legitimate merchant (such as a mail-order company), never give your card number out over a cordless phone.
Radio scanners that eavesdrop on these conversations are available for a few hundred dollars at any electronics store, and your voice can be received by one from a far greater distance than the maximum useful range of your cordless phone.
One common scam is when someone calls you "back" right after you place an order, claims to be from the merchant and tells you that there was a problem with your card number -- would you mind giving it to them again? The best thing to do is ask for a contact name and call the merchant back at the number you used originally.
Ignore any credit-card offer that requires you to spend money up-front or fails to disclose the identity of the card issuer.
Make certain you get your card back after you make a purchase. Also, make sure that you personally rip up any voided or cancelled sales slips.
Always keep a list of your credit cards, credit-card numbers and toll-free numbers in case your card is stolen or lost.
Check your monthly statement to make certain all charges are your own, and immediately notify the card issuer of any errors or unauthorized charges.

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