Storing Credit Card Information: The Good, The Bad, And The Plain Ugly

1. Storing Credit Card Information: The Good, The Bad, And The Plain Ugly If you are an avid online shopper, you understand the struggle of having to fetch your wallet every time you shop, add your card details and let the credit card processing begin. A lot of us are even tempted to store credit card information to make the process easier. But the convenience that comes with storing credit card information comes at a cost. Apart from making unwanted purchasing, it can also result in fraud. You need to consider these things before storing the information. Risk of fraud The websites you store your card information on could be vulnerable to a data breach. Your card then is at an increased risk since the information can be used for fraudulent purchases due to the fact the online credit card processing becomes easier. Ease of spending According to statistics, the risk of impulse buying decreases whenever we have to grab our wallets and put in that extra effort of typing in the card details. Not saving your information will help you avoid spontaneous purchases. Despite this, if you still need to store your credit card information, here is what you can do to protect yourself. Virtual credit card It is a temporary credit card that does not use the number on your actual credit card while you shop. It gets deactivated after a certain time. Stick to trustworthy websites Reputable websites use a higher level of digital security to protect your data from hackers. Ensure that the website you are on is secure enough. Use only private wi-fi network Public wifi is often used to steal private and sensitive information. Try using a private network every time you plan on shopping online. If you think your credit card information has been compromised, get in touch with your bank at the earliest.