November 30, 2009
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BBB; Protect Yourself When Online Shopping, Pt.3
Know your rights and responsibilities.9. Know your legal rights. Make sure you understand the shipping and return policies before you buy. Federal law requires that orders made by mail, phone or online be shipped by the date promised. If no delivery time was stated, the order must be received within 30 days. If the goods aren't shipped on time, you can cancel and demand a refund. You also have the legal right to reject merchandise if it was misrepresented or defective. If the company isn't willing to satisfy the problem, file a dispute with your credit card company.
10. Do not shop online at work. Surfing the internet for personal reasons is against most company policies. Before you start surfing on your work computer, you should check out your company's policy to avoid the unemployment line and to reduce the likelihood of having your credit card and personal information stolen. Large companies in particular are more vulnerable to attacks than less profitable sites.
11. Consider using virtual cards online. Most lenders offer "virtual cards" or "e-cards" that can be easily accessed from your lenders website. Virtual card have been around for about five years and is offered by most major lenders including Citi, Discover, Bank of America, and PayPal. The virtual card was initially designed as an alternative method of payment for internet purchases to protect consumers who are concerned about getting scammed. It allows consumers to generate a one-time credit card number or a maximum limit which prevents companies from adding additional charges or recurring charges. What's more, the virtual card is recognized as a regular credit card.
Each company has their own unique virtual card system, but they generally function in the same way. You sign up for the service, download a simple program on your computer, and get ready to shop. When the customer is ready to make a purchase, the system generates a one-time use 16 digit credit card number. Depending on the limits set by the consumer, the number is either used again at the same online store or is thrown away. Some people say taking the extra time to set up virtual cards doesn't compensate for the advantages. Those who have been scammed, say there is no substitution for the peace of mind in knowing they are protected.