As computer technology increases and the use of the web continues to grow, you along with thousands of others, are using computers and the internet to complete many of your daily tasks. Everything from communication to balancing a checkbook to buying groceries, all of these tasks have become more convenient thanks to computer technology. The biggest convenience that many people have utilized the internet for is online shopping. Unfortunately, as the amount of online purchases rises a looming inconvenience that also grows is credit card fraud and identity theft.
Computer hackers have become brilliant at accessing your credit card numbers online whenever you make an online payment, making the use of your credit card for a purchase on the web a worrisome experience. Hackers can also use these numbers to steal your identity including your social security number and other personal information buy vcc
. The speed of the internet and the fact that you do not always know what happens to your coveted credit card numbers once you hit send, makes it a very favorable place for thieves and hackers. The good news, for you as a consumer, is that some credit card companies are discovering ways to stop this headache from happening.
How do they do it you ask? A new technology called virtual credit card numbers is making it more encouraging for people to make online purchases without the worry of becoming a victim of identity theft. Virtual credit card numbers, to put it simply, are one-time use then throw it away numbers. When you are ready to make a purchase online you start by contacting your credit card company, via the internet of course, and they send you a sixteen digit number that you use on that purchase only. This virtual number is useful only on the website from which you are making the purchase and expires within one to two months of the transaction. If a thief is able to track these numbers they will be impossible for him to use a second time on a purchase in any other location.
Several major credit card companies, including Citibank and Discover, have caught onto the handiness of using virtual numbers and are offering it as an option to their customers. Although these credit card companies do offer zero liability to their customers for fraudulent charges, they can not undo a bad credit report that ensues due to unauthorized purchases. This makes the use of virtual credit card numbers very appealing to clients who make frequently buy things online. Although virtual credit card numbers can not be used for everything, they are gaining in popularity for regular online shoppers.