Credit Card Security

Credit cards are very useful for buying anything online. The transaction is fast and avoids hassles of cheques, mail, bounces and delayed product delivery. As these small plastic cards get more common, so rise the intentions of potential thieves to get hold of your credit cards details and misuse them.

Credit card transactions are very safe on the internet. But you need to take special precautions to ensure you don't end up paying a huge amount and legal hassles for something you did not buy.

So, here are a few Online safety tips:

1. Buy from reputable sites.


2. Check the lower left corner of your browser window for a padlock or key icon whenever you're on a screen that sends personal information or credit card numbers. If the padlock is closed or the key is intact, security technology will scramble your credit card number and personal information as it's being transmitted to the merchant.


3. Print out the screen that confirms your transaction and hang onto it as a receipt. If you don't have a printer, save the confirmation in your computer.


4. Carefully read privacy and security statements before you buy.


5. Never provide your credit card number via email.


6. If you suspect your card number has been mishandled, report it to your credit card issuer right away.

How do you know whether the site is a secure website or not?

There are two ways you can confirm this is a secure web site:

• When you are on a secure page, there should be a small padlock symbol displayed on the bottom line of your browser.


• When you are on a secure page, the URL address shown at the top will begin with an "https://" prefix rather than the standard "http://" prefix. The "s" means that the page is secure.

How does a credit card's CVN protect me?

The CVN, or Card Verification Number, is on the back of every card, usually on the strip where your signature appears. It's the number many online merchants ask for to complete a transaction over the Net.

Most credit card transactions --> at petrol pumps, shops, airline offices, hotels --> take place in front of us. So there is little oppurtunity for anyone to note down the card's CVN while swiping it, though, of course, they will have a record of the card's main number embossed above your name. But that doesn't help a theif since he cannot buy anything over the net without giving that card's CVN.

If your card is stolen, however, the theif will naturally know both its main number and CVN. So if that happens deactivate your card by immediately phoning up the card company.

Some general tips to be considered:

• Never reveal your credit card details like number, CVC number, expiry date of your card to anyone in person, or over phone.
• Never reveal your ATM pin number as it is required to withdraw cash from ATM machines and not for online purchases.
• Keep a seperate low credit limit credit card for online purchases only. Gives you peace of mind.