“Is Etsy safe for credit cards?” is a question that almost every buyer inquires about before entering their details online.
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There is no denying that many millennials are reluctant to use credit cards to avoid drowning in debt. Furthermore, they are even more careful about where they enter their classified information and rightly so.
In the past, there have been countless instances where people have faced severe financial losses because hackers succeeded in getting access to their information. Such incidents usually happened after customers entered their credit card details on e-commerce platforms to buy something. The increasing numbers of such fraud cases were alarming and have helped create awareness for the masses.
This is why, nowadays, people take justified precaution when entering their credit card details on a new platform. There is nothing wrong with being careful but one must do the essential research before believing in rumors.
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Credit Cards vs. Debit Cards – Which one is Safer?
Paying with a credit card is preferred over debit cards. This is because it’s easier to avoid losses from fraud by using credit cards. If your debit card is misused by a robber, the amount is deducted from your bank account right away. This makes your account balance lower and insufficient to pay for your legitimate expenses.
This may result in a shocking situation for you. You may suddenly find yourself without any money to pay your routine payments. Moreover, your creditors become upset at your inability to pay them. This lowers your credit score as well. Furthermore, it takes plenty of time and effort to reverse fraudulent transactions. The bank will first investigate the case thoroughly. It can be months before your rightful money is reimbursed in your account.
On the other hand, if you face a similar situation while using a credit card, you simply notify the credit card company. You don’t have to pay for the transactions that you didn’t make. Thus, you don’t run out of money to make your routine payments. Furthermore, your credit score remains unharmed which can prove to be beneficial in the long run when applying for mortgages.
The Credit card company is responsible for resolving the fraud case with the concerning regulatory bodies. You don’t have to worry about anything.
How to Ensure Your Credit Card’s Safety?
The internet can be a frightening place for many. Many deceitful people just want to make easy money by robbing you of your hard earned money. Internet is full of cons and skilled hackers who make a living out of fraud and hack sensitive data every day. As disappointing as this is, we must take the necessary safety measures to protect our money.
Ultimately it’s up to us to be smart about using cards on online platforms and not fall prey to such schemes. The following is what you can do to protect your credit card data from hackers on all websites on the internet.
Protect Yourself with a Firewall
A firewall is a first and foremost thing in securing your computer and data. Make sure to keep in on at all times when accessing the internet.
Install Anti-Virus Software and Keep Them Updated
Secondly, antivirus helps you protect your computer from malicious code. Installing an anti-virus will ensure your computer is not corrupted by any virus. It will make sure that your data is not hacked through viruses that get on your computer when you install files from an unknown source.
Promptly Install Software and Browser Updates
Software and browser updates come with enhanced security features. This is why it is to your benefit to quickly install them when the notifications of updates pop up.
Have Hard to Guess Passwords
Even if someone gets access to your credit card number, they will not be able to do much harm to you if they are unable to guess your security pin or password. This is why it is essential to have a password which is hard to guess.
Many people make obvious things, like their birth date or last name, their passwords which are just too easy to guess. This makes the job of hackers so much easier! Don’t make this mistake and try to combine numbers and different letters to create an unpredictable password. The longer the password, the stronger it proves to be.
Don’t Show Your Card in Public
It is a common practice to keep your account number and credit card number private. This information should be kept private as it can easily be misused by others. Don’t hold your card out in public to allow random untrustworthy strangers to see it. Never share your card details loudly in public or even on a phone call unless you’re speaking to your bank’s representatives.
Look for that Extra “S”
Another quick and easy way to be careful about your security is to check for an “S” on the website’s web address. Web addresses with an “S” like ‘//https:’ indicate that they have encryption software to protect the data of their users. On the other hand, websites with a simple web address starting with ‘//http:’ do not have any encryption so entering your personal credit card information on them is dangerous.
Do Not Enter Your Social Security Number
No website should ask you to put in your social security number to make a simple purchase. If a website asks for too much information then there may be something fishy about it.
Check Your Account Often
Checking your account and how much money has been spent from it should be a routine task. It is common to overlook frauds committed on our credit card number simply because we don’t check our statements carefully. So, the next time you receive your bank statement, spend some time going through it to make sure you’re the only one spending from your credit card.
Follow Your Gut Feeling
This is just a general rule to abide by. Whenever your instinct is telling you something isn’t right, don’t fight it! For example, if you are buying from a website that seems shady, don’t do it.
It is important to understand that our minds analyze many things simultaneously. Therefore, sometimes, it can be difficult to pinpoint why something doesn’t feel right. In such cases, if you feel like a website might not be right then aborting the mission is your ultimate solution.
Report Suspected Fraud Right Away
Despite taking all the precautions, if you still notice some unusual activity in your bank statement, it is best to report it right away. Don’t be afraid to take action when your credit card is showing you purchases you didn’t make. It’s not always about recovering the little amount of money but more about knowing that your credit card details are safe and only you know them.
Furthermore, if you ever lose your credit card the first thing to do is to report it. According to U.S. law, if you have informed the loss of your credit card to the bank and company, the most they can charge you for is $50. It is their job to promptly block the card after it has been lost to ensure that no one else is using it.
Is Etsy Safe for Credit Cards?
Etsy is an online marketplace that has been continuously growing since its inception in 2005. Etsy has a risk operation team that is always striving to reduce the risks of this platform and promote a community where buyers and sellers can make transactions safely. It is a highly lucrative platform too and is popular for good reason. People sell photos, shirts, wood signs, stickers and so much more on it!
To promote business further, it is Etsy’s priority to protect its users from financial harm. Etsy ensures that it’s a safe place for credit cards by doing the following.
Preventing Deceptive Purchases
Etsy does this by ensuring that the sellers are legit and are selling what they claim. If a shop is reported to sell counterfeit products or simply takes payments and does not deliver the products, then it is shut down immediately.
Scrutinizing Phishing Emails
Phishing emails falsely claim to be from popular organizations and try to get customers to reveal their personal information like credit card numbers, passwords or social security numbers. Etsy takes this seriously and if anyone claims to receive such an email from Etsy, they will carry out a proper investigation to solve this matter.
Solving Credit Card Disputes
Etsy ensures that there are no disagreements between its buyers and their credit card companies. So if there is a charge on your credit card from Etsy that you are unsure of, you can always email the Etsy team to look into the matter. Their team will get back to you with the details of the purchase to give you some clarity.
Verifying Identity of Sellers
This is an important part of ensuring smooth transactions at Etsy. Etsy ensures that the personal details of the sellers are double-checked and legit. This is to ensure no cons are sitting behind a computer, claiming to sell amazing products only to cheat people in return. All of their bank account and other personal details are analyzed to make sure they are trustworthy.
In order to protect sensitive information like bank account numbers and social security numbers, Etsy follows the latest practices prevailing in the e-commerce industry. This includes encrypting the information when it is received as well as when it is stored. Secure Socket Layer Technology is used in a PCI compliant environment to fully protect customer/seller information. Etsy respects the privacy of its customers and tries its best to keep their personal information safe.
Option of Charge-backs
Charge-backs are when you receive your funds back in your credit card in case a fraudulent transaction was carried out and your credit card was charged for something you didn’t purchase. Customer satisfaction is highly valued at Etsy. After careful consideration and sufficient investigation, your money will be returned to you by Etsy if your card was charged incorrectly.
In conclusion, Etsy is a highly popular online marketplace due to its unique offerings and creative positioning. It is a community of sellers who want to build their credibility and following. But is Etsy safe for credit cards? Well, a key contributing factor to its success is the safety that it offers to its users.
Thus, from the viewpoint of a customer, feel free to buy from Etsy without any hesitation. Buying on Etsy using credit cards is certainly safe.
You can easily find the reviews of many satisfied customers who have faced no trouble after using their credit cards on Etsy. This is proof that your personal information is safeguarded properly. Furthermore, the policy of charge-backs allows customers to have faith in Etsy to know that even if they do face any problems, they will receive proper compensation for their loss.
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