The internet retail boom has revolutionised the way in which we now shop, and it's possible to purchase almost anything, from mundane essentials to luxury items.
In fact, according to latest research by Sainsbury’s Finance, UK consumers now spend a whopping £6.4bn on their
credit cards for online purchases every month[1]. Small wonder: the ease and speed of virtual shopping from the comfort of your home is a boon to the time-poor. And when used sensibly, keeping a close eye on credit card interest rates and making savvy use of bonuses and rewards your credit cards can help your money go further.
While the UK’s online retail giants have responded to consumer concerns about the potential risks of shopping with credit cards online by providing secure payment systems, not all suppliers are as scrupulous.
Follow these top tips for keeping your credit cards protected and safe shopping online:
1. Stick with trusted retailers and ensure the site is the retailer’s official online portal. Check that the web address you're visiting reads https:// and has a padlock symbol next to it or at the bottom of the web page. A common trick, known as 'phishing', is when criminals build a site designed to look trustworthy in order to entice you to buy something.
2. Always make sure that the retailer has a postal address and a landline telephone number, not just a mobile. Do not assume the retailer is based in the UK just because the web address has UK in it.
3. When searching for products and suppliers online look for a green tick - McAfee SiteAdvisor puts a green tick next to Google search results which can give a good indicator of a site's integrity.
4. Some sites will ask you to register and give them a user name and password. Do not use the same password on every site. Create three or four and vary them.
5. Make your passwords complicated using a combination of letters and digits - avoiding obvious combinations such as your name and birthday which can be easily picked up from viewing your Facebook page.
6. To protect your credit cards, set up and use Verified by Visa or Mastercard SecureCode, and only use secure services such as PayPal.
7. Only buy online when you’re confident that the internet connection you’re using is secure. Be aware that Wi-Fi networks in cafes and airports - where someone sitting nearby can pick up the information you're sending, or divert your signal to their laptop - could put you at risk. Don't enter your credit card details if you're not sure where they're going.
8. Before completing your purchase, check arrangements for payment and delivery and your rights to cancel.
9. Keep records of all paperwork and print off any e-mails you receive confirming your payment and delivery details and check your credit card statements.
