As e-commerce becomes more common, so are more cases of credit card fraud or identity theft. Internet shoppers must take a few necessary precautions in protecting themselves. Consumers should always be aware of those asking for information. Email scams known as “phishing” or “spoofing” in which consumers receive messages from dishonest sources disguised as messages from trusted retailers or financial institutions are one way people are tricked in to divulging personal information.  While shopping, it is most important to be aware of who you are buying from. The preferred payment of choice for online transactions should always be a credit card, not check, money order or automatic debit.  This means real credit cards for purchases, not a bank debit cards that might be your ATM card.  Have you been shopping online lately?  You might want to check your credit report, just to be safe.

There are a few things you can do to prevent any credit card or personal information theft.

An Internet shopper needs to pay close attention to the websites they are using.  The website should look like the merchant is professional, not an amateur with out of range prices.  There should also be true contact information, not just an email contact.  The shopper should be able to call and reach a person, or there might be cause for concern.  Be sure that the website also provides a physical address for the company.

This first step in monitoring your credit and protecting your identity is regularly monitoring the credit card statement you use to make your online purchases.  Do this for even for several months after your transactions.  Make sure that all your transactions are accounted for and the amount processed was correct.  Look for any purchases you did not make.  If you do find a transaction that is not yours immediately report it to your credit card company to file a dispute.  The banks and credit card companies will usually work quickly to make the necessary adjustments to your account.  Follow-up by continuing to monitor your statements closely.

The other monitoring that needs to be done on a regular basis is of your credit report.  This is where any activity under your name and social security that is related to debt, or the attempt to obtain debt will appear.  You are allowed free copies of your credit report once a year.  In addition to this free copy, anytime a creditor denies you credit you have the right to the credit reports they obtained.  These reports can be obtained online or via the mail.  Equifax and Experian are two of the major credit reporting agencies. 

Once you have obtained your report, review all items for accuracy.  This includes all the names shown as being used on your accounts.  If there are any errors you must immediately report these to the credit agency.   The report will come with instructions on how to do this, and what their procedures are for fixing erroneous information.

If you have been online shopping, it is always a good idea to give your credit an annual check up.  Of course it is simple, and you can do it online.  There is no reason to pay for online credit companies to pull your credit for you, unless you simply do not want to fill out the online form or make the call.  Obtaining all your credit reports and correcting the information is not a service that needs to be paid for unless you truly do not want to be bothered with it.

The following are some of the resources available for online shopping and E-commerce fraud: The Better Business Bureau, offering many resources including online shopping tips and fraud prevention.  They also keep record of complaints that have been registered with them.  It is always a good sign to see a company is a member of the Better Business Bureau.  The National Fraud Information Center, a program of the National Consumers League that maintains information about online scams and lets you file complaints online.  It is also wise to keep your records in check by ordering your credit reports once a year from the following credit reporting agencies, Experian, Equifax, and Myfico.  All of these agencies can help you review your credit activity and be sure that all transactions are yours.

 

Related posts:

1. The Virtual Credit Card — What it is and Why You Should Have It
2. Five Fail-safe Methods to Have a Scam-free Online Shopping Experience
3. Quickie Guide to Protecting your Online Shopping Identity
4. Six Safety Measures for your Online Shopping Experience
5. Driving a Hard Bargain – How to Become a Fearsome Online Shopper

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