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How to shop safely with a credit card?

The e – commerce industry is slowly progressing and evolving. Not only is it easier to shop online, but also make transactions from the comfort of your home. However, while the e – commerce industry has progressed to offer such convenience, the fact remains that there will always be a risk involved. Whether it is transferring funds from one account to another or using a banking card to make a purchase from an online store, you risk your financial data being leaked to the public or individuals who can have the means to access it
This is no different for the credit card. The credit card, a popular bank card is used by several individuals who use it for several transactions such as making online purchases, bill payments, or even taking and paying off small loans. However, in most cases, it is used as a means to shop online. So keeping in mind the risks associated with the e – commerce, how can you shop safely with this banking card? Here is how:

Create Strong Passwords

While this may not be news to you, it is still an important piece of advice you must keep in mind. The password is one facility that allows you to access your funds. Most cards are compromised due to the fact that the password can be easily deciphered. Creating a stronger password will help eliminate this problem. You can make your passwords stronger by using a mix of complex, upper case, lower case, letters, numbers and symbols. As far as possible use a unique password whenever you can.

Opt for chip indented card

Another way that credit cards are compromised is through compromised card readers, wherein which, your card data is collected as the magnetic strip on your card is being swiped. That includes the password you use, as well as the account being accessed, as the data on the magnetic strip does not change. Unlike these traditional magnetic strip cards, the EMV card which is chipped cards, use a unique transaction code which cannot be used again. In the event, a hacker managed to steal the information from a specific point of sale; the chip cannot be easily duplicated.

Track your credit card statements

While the data on your credit card can be easily compromised when you use it, it can also be compromised when you don’t use it. In other words, transactions which you have not authorised may be made from your card. But how do you know when and where your card is being used? This can be done by tracking your card statements. With each transaction you make, the date, time and location will be recorded. Review it in details when you can. You will notice if any unauthorised transactions have been made without your consent. You can even sign up for alerts, thereby alerting you if any transactions have been made.

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