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Paying with a credit card


tomi

Paying with a credit card is safe or not?  

15 members have voted

  1. 1. Safe? NO?

    • It's safe!
      12
    • Your money can be stealed.
      3


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Hey guys!

 

I'm back from a nice, long break thanks to my crappy pc.

 

Anyway I need your opinions.

 

I'd like to make a credit card. I need my parents permission to do that. Now my problem is that they are conservative and they think

that someone steals my money if I pay for something online.

 

What I'd like to do is making a paypal account and pay with it.

My question is what do you think of doing this. Is it safe or not?

I'd really need a poll to assure then.

 

Please vote! ;)

Edited by gogoblender
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I agree with stubbs, go paypal.

 

Here in Holland, there's an initiative of the larger banks called iDeal, by which you can do transactions directly from your bank account, safely. Maybe there are options like that in Hungary? I don't know.

 

But creditcards... meh. ;)

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I agree, either pay pal or use a debit card only loaded with exactly how much you want to spend... that way if they do get your # they wont get your $$$ (someplaces wont take pay pal)

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Maybe I'm crazy, but I read the T & C for signing up with PayPal and I did not like all of them. So I just use my card on line. It's safer than the old days when we bought stuff over the phone and gave our card numbers that way. Most credit card number thefts have *nothing* to do with internet use -- merchants or card processors have their data stolen or misplaced or, what seems to be most common these days, "possibly compromised".

 

We just received a new Mastercard in the mail for that very reason. So online use doesn't add to the risk of having a card. And in the US, anyway, if you don't have any plastic at all it can be a real inconvenience.

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I never had any problems with PayPal, but I have had problems with credit cards. No matter how safe they say they are, I have lost money because of them twice. Both times the bank made me prove that it was not my purchases.

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I vote for , option 2.

 

But using your credit card on internet will not increase your security problem. Any time you use your card, retail store keeps a copy of your full digit card number and expiration date (in most cases). I work in retail store and till last year we were doing the same. I contact with our credit card processor and adjusted our credit card terminal software to "not to print merchant copy with full credit card number". Not all the retailers will do this. So, any time you use your card in any store, you gave your full info to the store. And who handles that data, could easily copy your card.

But banks are aware of this fraud and they do their best to protect customers. On online purchases most of the companies are checking for billing and shipping address match. If it don't match they will email you or call yo the number you provide before they ship the item.

 

If you get a credit card issued on your name, it is nice to have online banking option attached to it. You could monitor your expenses daily and if you see anything wrong you should contact with your bank immediately. they already know when and where this card is used and if you prove it is not you, they should return your money back.

 

Tou use your credit card online, I suggest to open a paypal account for yourself. I am using paypal for a long time and so far I can't complain. basically paypal gets your credit card info, you do your shopping online, paypal gets your money from your credit card, and pays the store. Store never gets your credit card information. This way you don't spread your credit card number every where. If you ask, "if paypal is safe?" I could safe it is one of the safest but I can't tell how much safe, but what is safe these days?

 

They create new Visa card which you don't even need to swipe to credit card terminal anymore. You just get close to terminal and , chip on the card will transmit your info to the terminal. If someone has that type of terminal in their pocket and will pass close enough to your wallet, here you go, you just lost your credit card info. So don't worry about online usage, just make sure keep an eye on your accounts periodically.

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Everything depends how card will be used. Pay pal is system of online paying and is quite usefull and international. But you were asking about cards, so there are only two options: credit or debit card. There is difference between them. Main is way of paying for transaction. Credit card takes your money for a transaction at the end of month as a 0% credit (usually). Debit card takes your money for transaction immediatelly. So for online shoping is less safe. When you are cheated you may always stop transaction when you have credit card (or at least try to stop), what is almost impossible when using debit card.

What more... Not all cards are accepting international transactions or companies use bad exchange ratio for foreign currencies. And many times they add additional fee for transaction with cards (no matter credit or debit) so look out for all additional costs of transaction, because sometimes you may pay more than you wanted and expected.

If we talk about safety of transaction... It depends only from your caution. Look out for keyloggers on your computer and sites where you buy. Transaction MUST BE encrypted and using at least https protocol during it. Check exactly that site and avoid scams. Chip cards are more safe than with magnetic stripe, because it is much harder to copy data from it.

So choice and safety depends only from you and is based on your caution...

 

With my experience I know what I'm saying, because I was using many times debit card for many trasactions even in public places. Remember about not giving card anyone. For transaction with card you need: card number, safety code (mostly 3-digit number at back side of card),personal information (like first, second name and surename) and PIN. Three of them are on card so when someone steal it, only need PIN to use it. Don't let no one take it from you. For example in restaurant, someone could add extension to terminal and copy data from card. Also can look on your fingers and remember your PIN. So being carefull is best way to avoid any dangerous situation.

 

REMEMBER: In security chain, human is the weakest link.

Edited by thek
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What a cool poll...lol, half for and half against so far! Well, regarding "safe"...this is a complex word. What's really safe regarding money anyways, right? Everytime I use my Debit Card to pay for groceries, I'm always scared someone's looking over my shoulder trying to get the pin. I am careful however with my card...I use it pretty much only for online purchases, paying my Phone bill, and that's pretty much it.

 

I do however look at all charges that show up on it monthly, to make sure there are no errors. Knock on wood here, in years of using Credit Cards online, no errors as yet.

 

I guess it's about how much "risk" you're willing to take, and how comfortable you are with it.

 

:)

 

gogo

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Yay thanks for the answers! Phehh 50-50%!

 

Okey well I dont really know what type of card will/can I have, but ill ask around. Although im sure it can be used for online paying. Checked that.

 

Well looking forward to further replies :D

 

This is instructive!

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In Turkey most of the banks offer virtual credit cards to use over internet purchases. Check this availability with your bank. It works pretty much like a debit card. You transfer the money to your virtual card before your purchase. And use your virtual card on your online payment. And if anyone gets your information, they could not charge any money from you, because your balance is zero or very little.

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k. The real danger here is fraud, commonly called identity theft.

 

1)

Credit cards in US and Canada have a 50$ limit for the consumer for purchases made when the card information is stolen.

 

2)

The credit card companies will phone you and try to get you buy insurance to cover the interest payments...but it is silly to get such insurance... Because what you're doing there is guarenteeing that they will be paid their interest (not your principal) if you cannot make your monthly payment.

 

3) In Canada (at least) credit card companies are also offering you a monthly service where they report to you if new credit cards are opened in your name... or anything else fishy is happening with your account.

You can get one free credit report (like what they'll do monthly for you) from each credit reporting company (at least in Canada and the US---Canada has 2, US has 3 different companies). So, you can do this yourself.

 

4) As has been said before: anytime you hand over your card, someone can clone it. They do this by swipeing it an extra time on a seperate device. Even using the card normally at a grocery store can be a bad thing: internet traffic was sniffed (copied) in North Eastern US at a grocery store. Because the sniffing happened outside the store, the store was not responsible.

 

5) Thieves like big payoff targets (like the grocery store)--so what they want is databases of credit card numbers and the security code from the reverse side of the card... and any information that is used to identify the person. I was issued a new credit card from my bank because there was a brief of information somewhere (I suspect inside the bank) and their entire database was stolen. That means, I now have to watch over my shoulder in case someone opens new accounts in my name.

 

6) Dealing with amazon.com, amazon.co.uk, amazon.ca, abebooks.com, and some gaming websites all have been safe for me. I tried to buy a French copy of Sacred1 and that didn't work. I got charged and never got the merchandise and never properly followed up. The package was sent, but described as a book rather than a computer game and it never made it out of either French or Canadian customs. So, yes, there is some risk to using the card online.

 

Risk is everywhere. You can't even be safe at home due to the miniscule possibility of home invasion. Step outside, and your biggest risk is an automobile. You have to take risks to have a life, but some risks just aren't worth it.

 

To me: I monitor my credit. I use my card online... because the cat really is already out of the bag. Too many databases, too many places.

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Go with credit cards. *You* do not lose money if someone steals your card, the bank eats it. This is because you do not authorize the charges and thus are not responsible for them. The $50 that you are technically responsible for in the U.S. is not actually collected. The credit card companies monitor transactions and will frequently alert you to phony transactions. That has happened to me a couple of times. It is vital, however, that you check your bill regularly, a couple of times a month, to make sure nothing weird is going on.

 

Credit cards are the ONLY way to go on the Internet. If you use a debit card, any money in that account can be lost and it will be gone. If you run into a shady merchant who doesn't send you your stuff, you contact the credit card company and get your money back. I've done this several times. Just don't wait too long.

 

PayPal is fine if you are using a credit card. DO NOT RELY ON PAYPAL TO GET YOUR MONEY BACK. Read their policies carefully. They will refund you about 10% of your losses for a bad transaction. If you use a creadit card, you get it all back. In addition, you do not immediately debit your bank account with a credit card, as you do with debit cards and bank transfers. You have about a month of 'float' until your bill comes in and you need to pay it.

 

The only real way to get screwed with a credit card is by not paying your bill every month.

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hmm I see!

 

Although, I don't really know the Hungarian word for debit and/or credit card. Dont really know which one can I get under the age of 18. Well I guess/hope

its credit card what ive seen.

 

Although I've no idea whats the diff between them. I'll have to read some about it.

 

Thanks again! :music:

 

P.S. I guess nobody learned hungarian since I last checked the forum, but maybe the pic can tell something? :) Or anything which can tell if its debit/credit.

 

Clicky!

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@tomi: the pictured card is a "credit card"

 

on debit card, it should mention on the card as following picture:

Consumer%20Visa%20Debit_Image.jpg

 

Debit cards are attached to your checking accounts, and what balance you have in your checking is how much you could spend with your debit card (if you don't have a spending limit on it). Debit card purchases will show in your statement immediately. And the money is transfered from your account instantly. If you don't have enough balance, card will get declined.

 

With credit card, you spend your virtual money (in your card limits), and you pay back to bank when you get the statement one month later. Like IKE mentioned, better the pay it off full amount if you don't want a get extra bills on your left over amount. If you spend 100 and pay it back 25 of it, you will get 75 + late fee rate (some percentage) on your following statement.

Edited by Yarasa
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There is also the pre-loaded debit card that looks like a visa/mastercard/amex but only has a certain amount 25, 50, etc "loaded" on to it like a gift certificate. They are not connected to your bank account in any way and so if you buy a 50.00 one and spend 50.00 the thieves can get the card info but it wont do them any good as there isnt any money on it and there wont be...

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For the longest time vampie and I did use a pre-paid debit card. We also used pay-pal and our actual credit card for online purchasing and have never had a problem with any of those methods. some of the site we ordered from took pay-pal some did not. it all depends on how comfortable you feel about putting your card # out there. its actually alot safer than it has been in the past to use your card online. Just check with the bank issuing the credit card and what type of securities they have for online purchasing.

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Go with credit cards. *You* do not lose money if someone steals your card, the bank eats it. This is because you do not authorize the charges and thus are not responsible for them. The $50 that you are technically responsible for in the U.S. is not actually collected. The credit card companies monitor transactions and will frequently alert you to phony transactions. That has happened to me a couple of times. It is vital, however, that you check your bill regularly, a couple of times a month, to make sure nothing weird is going on.

 

Credit cards are the ONLY way to go on the Internet. If you use a debit card, any money in that account can be lost and it will be gone. If you run into a shady merchant who doesn't send you your stuff, you contact the credit card company and get your money back. I've done this several times. Just don't wait too long.

 

PayPal is fine if you are using a credit card. DO NOT RELY ON PAYPAL TO GET YOUR MONEY BACK. Read their policies carefully. They will refund you about 10% of your losses for a bad transaction. If you use a creadit card, you get it all back. In addition, you do not immediately debit your bank account with a credit card, as you do with debit cards and bank transfers. You have about a month of 'float' until your bill comes in and you need to pay it.

 

The only real way to get screwed with a credit card is by not paying your bill every month.

 

 

Good Info Ike.

 

Thank you

 

And thanks eveyrone else her for chiming in with your experiences. I'm enjoying this thread, and hope others here walk away with some of the great tips posted.

 

:P

 

gogo

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hmm I see!

 

Although, I don't really know the Hungarian word for debit and/or credit card. Dont really know which one can I get under the age of 18. Well I guess/hope

its credit card what ive seen.

 

Although I've no idea whats the diff between them. I'll have to read some about it.

 

Thanks again! :)

 

P.S. I guess nobody learned hungarian since I last checked the forum, but maybe the pic can tell something? :) Or anything which can tell if its debit/credit.

 

Clicky!

 

 

Thats a debit card

Debit cards are far more common in Hungary, iirc 90%+ of all plastic cards are debits. For a minor with no regular income a credit card might not be even a possibility here.. if it is then its very expensive. Most banks offer cards intended to be used for online purchases, usually called "web cards" or "online cards" like this These come with higher security standards, requiring confirmation by phone before every transaction and such.. but they are usually linked to bank accounts that are not available for minors and/or very expensive to maintain. Some years ago I was also searching for some safer alternative, but the maintenance fees were so high for other cards (compared to my measly uni grant at least) that I just settled for a regular debit card. But then it was some years back.. and dont take my word for any of this .. Ive demonstrated a complete ineptitude in finances in all my exams :)

 

also:

debit card = betéti kártya

credit card = hitelkártya

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Genenut is right. Get a pre-loaded debit card.

1.If its stolen there is only what you have on it at the time that can be stolen

2.Get paypal. I have bought 167 items on ebay with it and use it at many other internet sites. Never a problem.

3. Only downside is I believe using that type of card instead of a reg. bank issued card is you do nothing to improve or build a credit rating. But you cant lose much either :devil:money.gif

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