Purchase Security (Visa Benefits)

Many people may not be aware that when they shop with a Visa credit card, they can shop confidently in the knowledge that all legitimate purchases made with the card are protected should the card be lost, stolen, or damaged within a certain amount of time from the initial date of purchase. This purchase security comes with several Visa card products, but you should check with your issuer to ensure that this protection is applicable to you.

Coverage

Eligible cardholders will have the ability to replace, repair, or even be reimbursed for items of personal property that you have paid for with an eligible credit card. Each cardholder has coverage up to a maximum amount per claim and covers damage caused by fire, vandalism, or theft. Accidental water damage plus other certain weather conditions are also covered.

The protection offered by Visa does not mean that you should not take your own safety precautions when shopping. There are numerous threats to your personal protection so you need to be aware of what they are and how to avoid being taken in and remain secure whether shopping in person or online.

Identity Theft

First of all, what is known as identity theft is something which appears to be on the increase. This fraud takes a number of different forms so you therefore need to be able to identify the signs in order to use your card with the confidence of knowing that you will not become a victim. Although the majority of identity theft comes from personal effects (e.g., wallet or handbag being stolen), internet fraud is increasing.

Phishing

Phishing is where unscrupulous fraudsters attempt to obtain your personal information with disguised e-mails which at first glance appear to be from trusted sources (e.g., banks, building societies, etc). It is important that you do not give any details to the sender of this kind of e-mail as generally, your bank will not seek to obtain any information from you in this way.

Online Shopping

Online shopping is very convenient and safer than many people may be aware. The majority of transactions go through without any problems. Cardholders can reduce any risk by ensuring that they activate Verified by Visa which is an additional security measure that prevents people fraudulently obtaining your personal details.

You can also reduce any risks by only dealing with trusted merchants or those who do not seek details such as a social security number or similar. Always make purchases from suppliers who ask for the 3 digit security code on the reverse of the card as it gives that reassurance that the card is in your physical possession when making the transaction.

Conclusion

Finally, be aware of more traditional methods of obtaining information from telephone calls or through the mail. Cardholders should never give personal information over the phone regardless of whether they purport to be a representative from a reputable organization. Remember, if something is offered that is too good to be true, then it probably is.