Having recently received the credit card bill for a card that has not been activated since I received it several months ago, I was surprised to find charges on the bill. Somehow I managed to use this unactivated card to sign up for a monthly MLM deal, purchase travel from hotwire and a train ticket as well. As I said, this card has been in my wallet with the little sticker to call this number from my home phone to activate it, for over seven months! But the charges didn't start until November. How could this have been prevented?
Throw away card numbers - virtual card numbers - can be of some use when shopping online but I doubt they would have prevented what happened to me. In my case, the thief had somehow determined my name and correct card information. If you want to use virtual card numbers for online shopping protection that is fine, just don't be lulled into a false sense of security. They wouldn't have protected me since I wasn't even using the card to make physical purchases.
Just like using a disposable camera instead of your expensive camera while you are traveling to protect from loss or damage, you can use a virtual card to prevent loss when purchasing online. With a virtual credit card number, the number is discarded after one use.
With widespread credit card fraud nobody is surprised when it happens and the credit card companies are constantly looking for a way to prevent losses due to fraud. The method must not inconvenience their customer when it comes to using the account for purchases either online or on person yet it must also protect consumer information. Their hope is that virtual card numbers can solve this problem for them and their customers.
The use of virtual card numbers for online purchases work the same way as a normal card number except they are only valid for a short time period. These numbers are issued as a short term replacement of the actual card number and are only valid for a short period of time. True card information is not sent to the vendor and these numbers can be single use or they may be used for multiple purchases over a short time period before it is no longer valid.
Protecting the real number from felonious use is the objective with virtual numbers. Should a computer hacker gain access to credit card data from a secure processing center, your account number would be protected. When they attempted to use your virtual number they would be denied credit.
Everyone expects their card information to be safe and secure when making a purchase online. But there is the possibility, however remote, that an employee of the online merchant would sell card information to criminals. Of course this would make them a criminal as well but some people will do anything if the price is right and there is little possibility of them being caught.
The biggest benefit of virtual card numbers is protecting your private information online. The subsequent use of such a number results in denial of credit. If you are used to making several purchases online with your credit card per month then you may see a real benefit from the use of a virtual credit card. This will assure all your transactions are secure and your information is protected. - 15224
Throw away card numbers - virtual card numbers - can be of some use when shopping online but I doubt they would have prevented what happened to me. In my case, the thief had somehow determined my name and correct card information. If you want to use virtual card numbers for online shopping protection that is fine, just don't be lulled into a false sense of security. They wouldn't have protected me since I wasn't even using the card to make physical purchases.
Just like using a disposable camera instead of your expensive camera while you are traveling to protect from loss or damage, you can use a virtual card to prevent loss when purchasing online. With a virtual credit card number, the number is discarded after one use.
With widespread credit card fraud nobody is surprised when it happens and the credit card companies are constantly looking for a way to prevent losses due to fraud. The method must not inconvenience their customer when it comes to using the account for purchases either online or on person yet it must also protect consumer information. Their hope is that virtual card numbers can solve this problem for them and their customers.
The use of virtual card numbers for online purchases work the same way as a normal card number except they are only valid for a short time period. These numbers are issued as a short term replacement of the actual card number and are only valid for a short period of time. True card information is not sent to the vendor and these numbers can be single use or they may be used for multiple purchases over a short time period before it is no longer valid.
Protecting the real number from felonious use is the objective with virtual numbers. Should a computer hacker gain access to credit card data from a secure processing center, your account number would be protected. When they attempted to use your virtual number they would be denied credit.
Everyone expects their card information to be safe and secure when making a purchase online. But there is the possibility, however remote, that an employee of the online merchant would sell card information to criminals. Of course this would make them a criminal as well but some people will do anything if the price is right and there is little possibility of them being caught.
The biggest benefit of virtual card numbers is protecting your private information online. The subsequent use of such a number results in denial of credit. If you are used to making several purchases online with your credit card per month then you may see a real benefit from the use of a virtual credit card. This will assure all your transactions are secure and your information is protected. - 15224
About the Author:
Author: Kermil J. Fogarth has extensive finance information available at his website. For more tips on protecting your credit.
