Worrying about online shopping security? Try the one-time use credit card number solution!
I use my credit cards for online purchasing often. Sometimes I would go for a store simply because it offers the best price. Some of you may yell “I would rather go for a reputable store for the safety”. Yes that is a valid point, however you cannot always find the best deals at the big name stores, and security breaches could happen to big name stores as well.
What do I do? I use a secure, one-time use credit card number instead. Many credit card companies provide you this valuable service, such as MBNA, American Express, Citi, Discover. Rather than using your real credit card number to shop online, you can use a secure, free one-time use number instead. You will receive a unique number that is linked to your actual card account each time you shop. Most of them are easy to use, and from my personal experience, I feel MBNA is the best because it offers a feature that others don’t: you can set the maximum amount that can be debited on the one-time number you generated.
Here is more information about MBNA Shop Safe from its webpage:
Protect your real account number when you shop online. Use ShopSafe to generate a temporary account number, and complete your online purchase with confidence.
Here's how it works:
Shop online as usual. When it comes time to make your purchase, just log into ShopSafe. Enter the limits you desire, and ShopSafe will generate a temporary account number so you can complete your purchase.....just like a regular card! Use ShopSafe Now
Optional download:
Get extra features when you download ShopSafe straight to your desktop:
- Desktop icon for quick access
- Help filling-in checkout forms
- Direct link to Net Access for account information
Questions and Answers
Q: Is there a maximum number of credit card accounts I can use with the ShopSafe service?
A: No. But all accounts must be credit card accounts registered in Net Access.
Q: Where can I use the ShopSafe account number?
A: The ShopSafe account number will be accepted anywhere your MBNA credit card would be accepted. The online merchant does not need any special software or applications to process your ShopSafe account.
Q: Can I use ShopSafe for recurring payments?
A: Yes. Some subscription services such as book clubs and Internet service providers, require recurring monthly charges. The ShopSafe service allows you to set your "Valid Thru" date for up to 12 months in the future. The Recurring monthly payment located on the Credit Number screen allows you to securely manage your monthly bills.
Q: Can the same ShopSafe account number be used to make purchases at more than one merchant site?
A: No. To provide additional security at each merchant site, a new ShopSafe account number needs to be generated for each online merchant site. However, you may reuse the same ShopSafe account number at the same merchant site.
Useful Links:
Citibank Virtual Account Numbers
American Express Private Payments
A word of caution before you get excited. Some merchants hate these features. Here is an extreme example - Paypal closed my account because I paid for my winning auctions by using one-time credit card numbers more than 15 times and their system does not allow a person to have so many credit cards 