Money, Risk
Reduce Credit Card Risk on the Internet with a “Throwaway”
Have a plan for the small chance that your card gets hacked. Hopefully, you’ll never need it.
The detective story’s main character used a “Throwaway” cell phone to contact his research expert, the only number it would call or receive calls from. It was totally isolated from other internet contacts and phone numbers.
I thought, “Why not get a throwaway credit card just for internet purchases?” Many sites, like Amazon, keep your card on file. Also, your connection might be vulnerable.
Internet-only card
If your card gets hacked, it takes time to close it, challenge fraudulent charges, and get a replacement. A debit card is worse. It’s a direct pipeline to your bank account.
I asked my bank for a second card with a low limit. Then, I would have a Main card for in-person and large purchases, a Backup used only for gasoline purchases just to keep it active, and the Internet card.
They sent one with a $7,000 limit! I called and asked for a much lower limit.
The representative said, “We don’t increase limits on new cards.” She sounded like nobody ever asked for a lower limit before!
Conclusion
Now, we feel safer and in more control with small purchases over the internet.
If you do this, always pay the full balance every month. Don’t get one if you have heavy credit card debt.
Finally, don’t forget the points. We put everything on point cards and have received thousands of dollars back over the years.
Idea source
The detective is a character in an upcoming book by Ed Parke. He is reading one chapter per week for critiques at our Wannabe Writers Club meetings.
