If you are like the estimated 50% of Americans who like to shop online for the products that they want, you'll assuredly benefit from reading this article. We'll discuss why using your credit card to make that online purchase is one of the smarter moves you can make. Keep reading to find out why.
In an online shopping world that is susceptible to security breaches and data hacks, using your credit card is a smarter, more secure way to shop online, advises the Mirror. Credit card security has been greatly enhanced in recent times, and your credit card company, or the issuer, is always monitoring your accounts, too. Sites that do not meet minimum security requirements won't be allowed to process your purchase, a built-in safeguard that protects your financial interests.
When you shop online, you make transactions that the credit card companies refer to as card-not-present transactions, according to Wikipedia. What this means is that since you are not physically there, a signature is not required. What it also means is that you can dispute charges more easily, as the card issuer will require that the merchant provide a signature, or usually the dispute will go in your favor.
Most credit cards these days offer a rewards system. Some offer cash-back on purchases, others offer loyalty points and yet others offer airline miles. These are perks that are rarely enjoyed with any standard checking account. Being able to earn rewards from buying products you were already planning on owning is always a nice benefit.
Better Spending Tracking
Sometimes it's just easier to curb your spending habits when you are aware of just how much money you are spending. With online statement access, you can easily look up what recent purchase that you made and how those are going to affect your budget. It's a great way to stay on top of your spending habits.
Finally, when using your credit card to shop online, you are not risking a breach in your bank account. If hackers get into your checking account, they can clean you out with you waiting (while being broke) for up to 21 days for the funds to be reimbursed. Whereas if they clean out your credit card, it won't affect your bank account or your ability to meet your monthly obligations.