Safe practices for online commerce
Exposing your credit card details in an online transaction always creates the risk that someone steals these details. Here are some tips to minimise this risk:
Avoid using a credit card altogether
If the merchant offers to use Paypal, Zippay or Afterpay you should use this as this does not expose your credit card. Even better, for regular bills (internet, electricity) you can elect to use direct debit so it’s debited directly from your bank account.
Use a secondary, low balance debit card
If you are forced to use a credit card, you could open a secondary account with a debit card in the same bank and use this one exclusively for online transactions. Keep only a small amount of money on it and transfer additional funds when required. If this card get hacked only the small balance will be stolen.
Use a one time credit card
This is fairly new on the Australian market but with a card like Revolut, you can create virtual credit cards that can be used only one time online and then immediately destroyed. This is a fantastic solution for safe online shopping. See https://www.revolut.com/en-AU
Keep an eye on your credit card transactions
It sounds a bit tedious but having a daily quick glance at your credit card transactions will help spot suspicious transactions quickly and take immediate action with your bank, thus limiting the damage incurred.
