[C]onsumers are often wary of shopping online. And they should be, with all of the identity theft you hear about in the news. Well-known and trusted companies get hacked, which results in stolen information for thousands of unsuspecting people.
One of the biggest areas of concern is for people to get your credit card number. Once they have that information, it can be quite easy to max it out to the limit and you won’t even notice until your statement comes in the mail.
To prevent this problem, some people are turning to virtual credit cards. You might want to find out about them and how to use them if you like to shop online.
What is a Virtual Credit Card?
You must have an account with a credit card company or other creditor to obtain a virtual credit card. You may be given a credit card number which will only work one time and has an expiration date of 30 days or even less. Once It is used, you can no longer input that same number elsewhere.
The benefit of a virtual credit card is that it’s basically worthless to a hacker. Even if they get your information, they won’t be able to use it since you’ve already paid for a purchase with it for it to show up online.
Some of these cards also come with a spending limit. That way, even if a hacker gets access to your credit card number, they won’t be able to go beyond a specific dollar amount.
You can find out about these virtual cards and the details on how they work with your credit card issuer. You may not even be aware that your provider offers such a deal unless you ask. You will need to know the restrictions so you can use it the way you want, but these restrictions will protect you.
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