When it comes to unauthorized charges, there are many consumer defenses available. The credit card companies, as well as the government are very aware of identity theft and the recent rise so it has become increasingly easier to report fraudulent charges. Now if your card is used without your permission, you can only be held liable for up to $50 per card. Compare that to if your wallet or purse is stolen and how much you would get back from cash lost in that case. Plus If you report the loss before the card is used, you can't be held responsible for any unauthorized charges. Most good issuers have a 24 hour number where they can be accessed nowadays but it is always a good idea to follow the phone call up with a letter for documented proof and you will be fine. Also if u just have a dispute with a merchant or service provider, it can be handled in the same way as long as they are within 100 miles and the charge is above $50. (These limitations don't apply if the seller is also the card issuer or if a special business relationship exists between the seller and the card issuer, or if you've already made several attempts to resolve the dispute on your own).
Aside from that, some people are afraid of billing errors. While I am fully aware that billing errors do occur,I also know that issuers have a set of rules they have to follow to promptly correct them. These rules are outlined on statements sent out once a year. Many issuers even list your rights on the bill. If you find a mistake on your bill, you can dispute the charge and withhold payment on that amount while the charge is being investigated. The error might be a charge for the wrong amount, for something you didn't accept, or for an item that wasn't delivered as agreed. Of course, you still have to pay any part of the bill that's not in dispute, including finance and other charges.
Some other tips are pretty simple to follow. 1. Never respond to credit card e-mails asking for your details, even if they look official. 2.Always make sure the merchant only charges you once at the time of the transaction. The sooner the better. 3. Don't enter your credit card into an unsecured website. Make sure the address says "https" instead of "http". The website should also have a certification of some kind, usually verisign.
So to sum it all up, credit cards are safer than ever and will always be safer than cash in my opinion. I've included a link to a list of good, safe low interest credit cards. Feel free to look over them and compare rewards.
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Electronic money is steadily replacing traditional paper currency. With the introduction of online banking, paper currency has taken the form of virtual debit cards and credit cards, which has made online payments lot easier than it used to be earlier. Virtual debit or credit cards refer to a virtual card which has an account with it. Any amount of money in the account can be sent via the virtual card electronically. Typically, this involves use of computer networks, the internet, and digital stored value system or the account.
Debit cards and online bill payments allow immediate transfer of funds from an individual's personal account to a business's account without requiring any actual transfer of the traditional paper currency. This is a significant advantage of virtual debit cards and credit cards, which has a great deal to offer businesspersons of all sorts.
Technically, virtual credit or debit cards are representations of the traditional system of debit and credit, with an additional facility of online transactions. In plenty of occasions, the term electronic money is used to refer to the provider itself. In many cases, a private currency may use gold to provide extra security, such as digital gold currency, another type of account against which high value virtual debit and credit cards are supplied.
Major private online money transfer organizations are now offering virtual debit and credit cards to all those who are ready to capitalize on these innovative money transfer services. Although banks have been the fore founders of virtual debit and credit cards, private players are no where to be missed. In fact, private players are the leading force, as they operate with greater flexibility than banks. Check out EPAY virtual debit and credit cards. These are one of the most popular of all their counterparts across the world.
Both Kenneth Wade & Anirban Bhattacharya are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Kenneth Wade has sinced written about articles on various topics from Credit Cards, American Express Card and Credit Cards. Kenneth James has written many articles on the credit industry and is the webmaster of a website offering news and information regarding credit cards.