9 Security Tips if You Frequently Use a Credit Card for Online Shopping

Updated on: 03 Jan 2024 // 4 min read // Credit Cards
Author :(466 posts)

With India moving at an unprecedented pace towards becoming a cashless economy, it isn’t long before we will all be mostly dependent on credit cards for most of our shopping. Unfortunately, with the increase in the use of Credit Cards, credit card frauds are also on the rise. As per the data released by the Reserve Bank of India, there were close to 24,000 reported cases of fraud related to Credit Cards, debit cards, and internet banking, within a short span of 8 months, from April 2017 to December 2017.

While these statistics may seem to be alarming, but the fact of the matter is that you can easily avert fraudulent activities, just by following some common security tips. Below listed are the some of the most compelling ways which will help you keep your card safe and offer you the much-needed peace of mind while shopping online.

1. Don’t store your card details on any website

Owing to the presence of auto-fill forms, as well as other software which tends to make the shopping experience more customised for you, you may be tempted to save your card details on websites that you regularly use. This, however, may put you at a higher risk of being hacked and looted by miscreants. Trust us, it is entirely worth your while to fill in your card details every time, no matter how cumbersome it may seem.

2. Never share your PIN

When you are shopping online all that the payment gateway will ask for is your card number, expiration date, and CVV number. Your vendor will never ask for your PIN, and hence you should refrain from using any portal that requests you PIN at any point during the transaction. It is also suggested to keep your PIN in your memory, rather than writing it down anywhere.

3. Protect your computer

It is imperative to install a trust-worthy firewall on your laptop, computer and even smartphones, to keep them safe from any unwanted attacks by viruses and malware. Such software will also ensure the safety of your Credit card information so that you can shop online in a hassle-free manner.

4. Shop only on websites you can trust

When shopping online, make sure to steer clear from any sites which may have misleading names or URLs. Moreover, avoid the websites that you come across through banner ads or pop-ups and make your purchases only from those e-commerce portals that you are sure about.

5. Don’t use your card on public Wi-Fi networks

When you are operating your laptop or smartphone via a public Wi-Fi network, it is best to avoid making any Credit Card payments, as the chances of your information being stolen via the network are incredibly high.

6. Check the security settings of your computer

Make sure to keep a tab on your computer’s security settings from time to time. In some instances, it has been observed that hackers take advantage of lags insecurity of your browser or operating system to extract your confidential information.

7. Keep an eye on your Credit Card statements

Yes, it does seem like a daunting task, but nonetheless, we recommend you to carefully analyse your Credit Card statement every month, and look for any suspicious transactions, even if they are for a minimal amount of money. In case of misuse, make sure to report the sale to your card issuer within a span of 30 days from the day of the transaction to ensure complete safety of your money.

8. Make transactions only via an SSL Encrypted vendor

Before making any transaction using your Credit Card Online, make sure the vendor has a Secure Sockets Layer Encryption or SSL Encryption, which will help keep your card information secure from any malicious hacking attempts. To be sure of the same, check the URL to see if it shows “https:” wherein, the s indicated a secure gateway.

9. Be careful with your password

Right from creating a strong password, to ensuring that you don’t write it anywhere or give it away loosely, you must ensure complete safety of your password. If you hold multiple cards, we strongly recommend you to have distinct passwords for each one of them, so that even if the information of one of the cards gets hacked, the others may remain safe. For enhanced security, it is best if your password is a combination of alphanumeric characters, comprising of upper and lower case letters.

Now that you are aware of some of the best ways to safeguard your card from data theft and fraud, feel free to use the Credit Card for Online Shopping. After all, what could possibly be better than shopping right from the comfort of your own home, while reaping the benefits of reward points and cashbacks!

Also Read: Best Credit Cards for Shopping

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 70+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.

Credit Card