Buying Online With Credit Cards

The e-commerce industry has grown by leaps and bounds in the past few years. According to the Forrester Research Online Retail Index, consumers spent an estimated $4.3 million online in April 2001 alone .The ease with which one can do shopping at the click of a mouse button , sitting at one 's home is a dream come true for many.

There are certain distinct advantages associated with online shopping. The variety of products available is mind boggling. You could also research the product you are interested in. What's more, its open 24 hours 7 days a week! The disadvantage is that there is a possibility of credit card fraud if you are not careful. Sometimes you could spend hours online and still not find what you are exactly looking for.

Shopping online can be great fun but always follow certain precautionary measures to prevent credit card fraud.

• Make sure your internet browser complies with industry security standards such as Secure Sockets Layer (SSL) or Secure Electronic Transaction (SET). These standards encrypt information that is transferred across the network, so as not to compromise your credit card information to some fraudulent third party. A safe site will show a symbol of an unbroken key a picture of a closed lock, or a Web address that begins with https.
  
  
• When choosing passwords make sure to use a combination of letters and numbers. This makes it hard to hack your password.
  
  
• Never give your personal information unless you are sure who is going to access it.
  
  
• Shop with the company you know. If you are not sure ask for a paper catalog. Before buying anything check out the details such as shipping charges, as well as their privacy, refund, and return policies. You could also consider buying through intermediaries. Some companies such as I-Escrow act as intermediaries by holding the money and transferring only when buyer receives the merchandise.
  
  
• Keep track of your purchases and if any discrepancies crop up in your credit bill immediately contact the credit card company.
  
  
• In case of unauthorized usage of your credit card you are liable for only the first $50. The Federal Trade Commission offers information on all aspects of online shopping and also gives out alerts.