How I use disposable credit cards to protect mysel...

Some people don’t take their security and identity seriously. There’s a reason that scammers have created things like phishing emails, which target people who may not have good filters on their email boxes and don’t pay attention to what an email says before clicking a link. They remain effective, which is why many of them still exist today. If you are someone that isn’t careful with your personal information, there is still time to change.

Financial data can be shared pretty quickly and effortlessly. In order to take an extra step in that security, you can try using a disposable credit card. Disposable credit cards are often known as virtual credit cards. A disposable credit card is one that is provided to you by your credit card company. It is meant to be used while online shopping and is a virtual credit card with a different number than your normal credit card. This is done to protect your regular credit card number. You won’t get the same number twice if you use a disposable credit card for an online purchase. It is a number that is linked to your account but is not the number on your credit card. Here are some reasons why you might use a disposable credit card.

5

You’re making a big purchase

This protects your information from being stolen

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The numbers on a disposable credit card are, by design, only good for one purchase. It is then made invalid by the credit card company, protecting your identity and personal information while allowing you to make a big purchase without worrying about your actual credit card number being compromised.

There are only two credit card companies that currently offer virtual credit cards. Capital One and Citibank allow users to sign up for virtual credit cards. They were previously offered by American Express and Discover, but are no longer options with either company.

Using a credit card with a disposable number makes sense when you are making a large purchase and want to protect your information. This can make sure that you’re only charged once to your account for that amount, adding an extra layer of security to your account. It is also a good idea to consider using this kind of credit card if you’re purchasing from a website that might not have the highest security around it. Using a browser that can flag unsafe websites can also stop you from doing this.

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4

When you don’t want to overspend

Not a bad idea for someone learning to use a credit card

For any credit card, you can set a limit for how much you’re allowed to spend at a given time. Normally, people just leave it as the set limit allowed by the credit card company. But, if you want to stop yourself from making large purchases, you can arrange for a disposable credit card number to be linked to a certain amount of money. This means that, when you use the virtual credit card number, you can only use it for a specific amount.

It is smart to put a cap on your spending and using a virtual number is a good way to do this. When you turn on the feature with either Citibank or Capital One (if your card offers this,) you can designate the amount you can spend with it. This is a good idea for someone who may be learning how to use credit and is trying to build some up by making smaller purchases.

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3

Stop a renewal in its tracks

Don’t get hit up twice for the same purchase

Let’s say you’re signing up for a new streaming service because you want to watch a specific show on it. You know it will take you longer than the trial period to do so, meaning your payment will get charged at least once. If you know that you don’t want the service after finishing this one show, using a virtual credit card number will eliminate the possibility that it auto-renews.

Plenty of us are terrible at remembering to cancel a subscription because we just forget. It’s an annoying charge to find on your credit card statement that a random subscription auto-renewed because you simply forgot to cancel it. You haven’t used it in months, but now you’re paying for it for another year. Using a one-time credit card number would stop that.

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2

When you don’t want to keep using the card

There are ways to stop yourself from using it

If you know you want to use a virtual credit card but you aren’t sure when, you can enroll for one right now. Any time you want to use it, your card will provide you with a new credit card number. But, you can also stop using the virtual numbers at any time. That’s because you have the option of choosing how long you’re allowed to use them.

This means that you have the ability to control how often and how little you use a disposable credit card. You can set a term limit that says you can use it for a year and then you have to go back to using your regular credit card number. Any time you are going to be using the service, your credit card company will create a new number for you in that instance. It is still linked to your credit card account, but isn’t available for more than one use. After a year or whatever the limit you have set in your account, this won’t be the case anymore.

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1

When you want to order something on the phone

It’s hard to trust someone not to use your card

Trying to place an order for something over the phone? It can be risky to give someone your credit card number while talking to them. They need to ask your name, credit card number, expiration date, and CSV code. This is pretty much giving them everything they need to know to use your credit card again. If you are making a purchase and feel uncomfortable providing all of that information over the phone, using your disposable credit card number could be the right move.

You will need to check with your credit card provider if this is a possibility. It has happened in the past where credit card companies only allowed virtual credit cards for online purchases. But, it is possible you can be authorized to use it for a over-the-phone transaction. Understand what your company’s policy is before you try this.