Identity Theft Risk Factors: Making Credit Card Purchases Online
Most consumers believe their credit card information is safe, simply because merchants tell them it is. Unfortunately, many identity theft victims have been frequent online shoppers who thought they were making purchases on secure websites — and that their information was completely secure. The fact is no merchant can offer its customers 100% protection, which most victims learn the hard way.
| Online Shopping Myth: |
In Reality: |
| Web retailers treat your personal and financial information with the highest degree of security, so you have nothing to worry about. |
Most retailers do their best to protect your financial information online, but they may submit it to third parties for credit and background checks, identity verification or other data requests. |
| If you promptly notify your bank when your credit cards are stolen, they can replace them overnight and won’t charge you the $50 liability fee for each card. |
It may actually take months for your credit cards to be replaced. Meanwhile, thieves could be using them to open other accounts and charging thousands of dollars in your name. |
