Credit Cards and your Online Shopping Sprees
With Christmas looming and the dread of endless queuing setting in, many of us are now looking towards the Internet for our Christmas Shopping.
The continual growth of Internet shopping has improved the service beyond comprehension. Users are now able to browse and compare prices on a range of goods that would rival any shopping mall, at the click of a button. What more, because Internet shops have ditched the overheads conventional shops have to cater for (presumably useless, joyless shop assistants), goods are actually cheaper and can be delivered direct to your door.
This sounds fantastic! Shopping whilst sat at home, without the headache of traipsing round with a million bags, rude shop assistants, kids running under your feet, everyone in your way and of course no chance of having your wallet thieved by a gang of hooligans!
However, Internet shopping can carry its own set of risks and stresses that could prove just as costly as sore feet and loosing your wallet.
Money and Crime are, unfortunately, inextricably linked and Internet shopping is no exception. Fraudsters are continually developing new strategies to get their hands on your hard earned cash, but using a credit card for your online purchases instantly gives you the upper hand.
Many credit cards offer free services that will look after your purchases and your money whilst shopping online. Make sure the credit card you use offers the following basic forms of cover:
- Fraud Guarantees: A promise by the card issuer to not hold you accountable for any fraudulent online transactions.
- Purchase Insurance: Cover against loss, theft or accidental damage for up to 90 days.
- Delivery Insurance: Any goods purchased will be covered against theft, damage or loss until you are in receipt of the product.
All credit cards are different and offer different services weighted towards different uses. The card with the best balance transfer rate is unlikely to be the best one for your Internet shopping.
The massive growth in the market has led some companies to develop special features designed for online usage, such as the 'Webcard' by Cahoot, which jumbles your credit card account number on every transaction so your real number is never left traceable.
Visa and MasterCard are also working in conjunction with a number of banks and building societies to provide the 'Secure' service - a password system that once set up, requires a password to be entered together with your credit card number when you shop with selected online retailers.
When you're fully equiped with a credit card offering purchase securities, Internet delivery cover and fraud protection for your online shopping sprees, our top tips for buying safely online will see you completely armed to the teeth with insider information on how to become a savvy online spender.
Shop safely with Choose's top 10 tips:
1) Make sure your payment is secure: Sounds obvious, but how do you know the details you give out don't land in the laps of the crooks? Make sure that the page you enter your details on is security encrypted. If it is, a small unbroken padlock should appear in the bottom right hand corner of your browser. If you still feel unsure check the encryption certificate by double clicking on the padlock. The address on the certificate should match the one in the address bar.
2) Shop with companies you know: Try and shop with large high street chains that you are familiar with. Failing that, don't be afraid to ask for information about the companies you shop with. Any trustworthy company should be more than willing to provide you with clear precise details, as they are in competition for your custom.
3) Check site reviews and price comparison services: Like Choose, there are many sites that offer reviews of specific online goods. They will not only direct you towards the best deals, but also steer you away from disreputable companies. Review sites such as www.DooYou.co.uk and www.ReviewCentre.com offer user reviews on a range of products and services. Sites like www.Kelkoo.co.uk and www.Froogle.co.uk can then help you locate the online store selling the item at the cheapest price.
4) Don't give away personal info: If you feel you are being asked for information that has no relevance to your purchase, you have the right to object under the 1998 Data Protection Act. See their website at www.ico.gov.uk for details.
5) Check the returns policy: Print out a copy of the company's returns policy and ensure that you are happy with the terms of it.
6) Know the delivery details: Make sure there is someone around to collect the package when it arrives. If you purchase from the UK the company you buy from should pay the postage, however, if the product is coming from abroad there may be additional charges such as local taxes and postage.
7) Be aware of hidden costs: Check whether or not the product(s) you are buying includes VAT, or if there are any delivery charges that you are accountable for.
8) Keep hold of confirmation documents: Once you make a purchase you will be sent an e-mail to confirm this, with details of the purchase and a reference number. It is important to print this off and keep it, as you will need the reference number if anything goes wrong.
9) Know your rights: You have the same rights as you would with a purchase in a shop. If you are unsatisfied with the goods you receive and unsure about how to rectify the problem, check out these links: Office of Fair Trading (www.oft.gov.uk), Trust UK (www.trustuk.org.uk), Trading Standards (www.tradingstandards.gov.uk).
10) Approach auction sites with caution: They may offer the opportunity to pick up goods at discounted rates, but don't forget that they rely heavily on trust, a trust which can be breached by unscrupulous sellers. Try and build a rapport with buyer and study their sales feedback for negative comments before committing your cash.
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