Are you concerned about falling victim to online fraud or Internet scams? With all the news about web sites being hacked and cyber thieves stealing credit card numbers, it's no wonder that some shoppers are still hesitant to provide payment information online. You don't have to be.
Today, shopping online is far safer than handing your credit card number to the waiter at a local restaurant. Nevertheless, it's important to exercise some precautions so that your personal information remains private. When completing online order forms, answer only the minimum questions. Most sites put an asterisk* next to questions that must be answered. What type of questions should you not answer? I've compiled a list of the top ten that immediately come to mind:
- 10. Age
- 9. Gender
- 8. Marital status
- 7. Number of children in your household
- 6. Education
- 5. Occupation
- 4. Annual household income
- 3. Drivers License Number
- 2. Bank Account Number
- 1. Social Security number
Many e-commerce sites ask these questions to build their database and better target their marketing efforts. Legitimate companies have strict privacy policies and will never share your personal information with any third party. However, you should always be cautious, there are always a few wolves among the sheep.
The number one piece of information to keep closely guarded is your Social Security Number. If your SSN gets into the wrong hands, someone could easily steal your identity, access your bank accounts or even open new accounts in your name and do some serious damage to your credit. There is no legitimate reason for any merchant to require this piece of information from you. If they value your business, they will respect your privacy and gladly process your order while allowing you to keep your personal information private.
One exception when your Social Security Number is required is when you apply for a credit card online. However, unless you are 100% certain that you are dealing with a legitimate and established bank or other financial institution, don't apply online. All credible banks will offer you the option to apply in person, by mail or via telephone. When in doubt, always call and request information via postal mail. If they hesitate, take your business elsewhere. When completing an online form (order form or other), be sure that the web page containing the form is encrypted. You can verify this be checking your browser. Internet Explorer will display a yellow closed lock in the bottom frame of the browser. In Netscape, check for a yellow unbroken key. If a page is not secure, never submit any information you wouldn't mind making public to the world. Whenever possible, pay with a credit card. When paying with your credit card, you receive a wide variety of consumer protections. In the worst case scenario if your credit card number is stolen, you can simply contact your card company, report the fraud, cancel your card and request a new one with a different account number. Great news! Earlier this year, Visa dropped the $50 liability cap that consumers were responsible for paying. MasterCard followed suit in May. For details on zero liability, visit CNN at
http://cnnfn.com/2000/06/21/banking/q_bankrate/.
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Any other comments, questions or suggestions on this subject are welcome.
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