How safe is paying with a credit card?Uncategorized
There are three different credit cards worldwide that are accepted almost everywhere: VISA, Mastercard and American Express. These credit cards are comparable in terms of payment security and insurance of your purchases. Compare these credit cards here.
In the past you only had to put a signature when paying with your credit card, but nowadays the signature has been replaced by a pin code. This has made paying with a credit card in a store much safer. In addition, banks take many precautionary measures such as the constant monitoring of suspicious transactions. For online payments, the security code (cvv / cvc) is always requested: this is a three-digit code that is printed on the back of your card. Sometimes a digital signature is also required, for example to be calculated via a digipass or by scanning a QR code via an app that is on your smartphone.
I have lost my credit card
If you have lost your credit card or if it has been stolen, it is important to call your bank or credit card institution as soon as possible. Every institution has a telephone number that can be reached 24 hours a day and seven days a week to block your credit card. From that moment, payments can no longer be made and you are protected against theft and fraud with your credit card. You only have to fill in a form to reclaim the amount spent in the period between the loss and the blocking of your credit card.
Are purchases insured if products or services are not delivered?
Your purchases are often insured if you purchase them with your credit card. The precise conditions differ per bank and per credit card company. For example, if you have purchased an airline ticket and the airline goes bankrupt, the credit card company or bank promises to refund your money. Since it is often a long process to recover money from a bankrupt company, the bank assumes this risk. You get your money back once the bankruptcy of the company is confirmed.
An amount has been debited without my permission
If an amount has been debited from your credit card without your permission, fraud or theft may have occurred. In this case, you will only find out after the transaction that your data has been stolen. Because it is often possible to trace where the payment took place, it is usually easy to prove that you did not do the transaction yourself. In addition, suspicious transactions are automatically detected. For example, with a payment with your credit card in Russia, while you used your credit card in the Netherlands an hour before, action is usually taken immediately by the credit card company. If it is demonstrated that you have not made the payment yourself, the amount will be refunded to your account and you will receive a new credit card as soon as possible.