Online shopping has grown exponentially in the past couple of decades, especially during the holidays. More money is spent online from Black Friday through the end of December than any other time of year.
It’s no wonder online shopping has grown in popularity either. Online retailers typically have lower overhead, and can offer goods for less than brick and mortar stores. Online shopping also gives consumers access to goods they wouldn’t be able to find locally, not to mention that it’s super easy!
The rise of online shopping, however, also brought about the rise of a new breed of bottom feeders – the Cyber Theives.
Cyber thieves usually strike without warning. They can steal your passwords and financial information, and you’ll be none the wiser. Until you get your bank or credit card statement, of course.
Companies can try to protect consumers as much as possible, but – as the recent Home Depot and JP Morgan hacks have proven – it isn’t always enough. Fortunately, there are a few safe online shopping tips you can followthis holiday season to keep your money safe!
1. Look for the HTTPS in the URL.
The URL is the address of the website you’re shopping at. For example, the URL for the Walmart website is https://www.Walmart.com. Before you enter your payment information on the checkout page, take note of the URL and make sure it starts with SHTTP or HTTPS. This means that your financial information is secure and encrypted, making it harder to steal.
2. Shop on trusted websites.
Entering your credit card information on sketchy websites is just asking to get robbed. Stick to trusted and known websites, like Amazon.com and Walmart.com. It’s not a guarantee that you won’t be the victim of cyber theft, but it’s much less likely. If you’re shopping on a website that you’re unfamiliar with, remember that Google is your friend! Take a few moments to research the website by searching for reviews and company history.
3. Watch your statements like a hawk.
You should pay attention to your credit card and bank statements any time of year, but it’s especially important during the holidays, particularly if you’re doing any shopping online. Go through each statement and notify your financial institution of any unfamiliar charges immediately.
4. Use a prepaid card for online shopping.
It may be a little less convenient than whipping out your regular credit card, but using a prepaid card for online shopping is usually a good idea. Just load it with a small amount of money for your online purchases before shopping. Even if your information is stole, thieves will cause much less damage, since they won’t have your regular account numbers handy. Try the Bluebird American Express card; you can pick one up for free at your local Walmart, and you can even load cash onto your card for free at the register.
5. Set up a PayPal account.
If you don’t already have one, set up a PayPal account before the holiday shopping season gets under way. You can load money to your account with a reload card or directly from your bank or credit card. When checking out at an online retailer, you can opt to have your purchases deducted from your PayPal balance, or from your credit card, debit card, or bank account. By using PayPal to checkout online, you never have to enter your financial information during checkout, making it less likely for the information to be stolen.
6. Read the fine print and terms.
It’s not the most exciting thing to read, but you really should. Before checking out, make sure you read the website Terms and Conditions and fine print. In some cases, you may be agreeing to more than you bargained for. Make sure you aren’t signing up for an expensive subscription service, for instance. You’re more likely to encounter these types of deals when ordering free items and paying for shipping only. These offers are usually welcome packages and require you to make future purchases or may even charge your credit card automatically each month.
