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Tip Tuesday – Credit Card Clarity
With the run-up to Black Friday and Cyber Monday, you may be looking for deals on gifts for others (or yourself) this holiday season. Chances are you will be using a credit card to make these purchases, whether in-store or online. This is smart because using a credit card is much safer than using a debit card. The Fair Credit Billing Act limits consumer liability for unauthorized use of a credit card to just $50.
But do you want a better way to track what you are spending online this holiday season? Perhaps try this tip from a client: Have ONE specific credit card that you use exclusively for online purchases and one that you use exclusively for shopping in-person at stores.
This practice means that you are only taking one credit card out of your home to possibly be lost, stolen, or skimmed, and thus you reduce your risk of fraud. The other card can be safely stashed in your desk for online use and you will know that this card has always been in your possession.
My client says this credit card clarity has made her realize how often she was seduced by social media advertisements and emailed “sale” ads from retailers. Since she separated her cards this way, she has curbed her late-night shopping and has halved her spending online.
Does this tip interest you? It could help you see your spending patterns, and can certainly help prevent credit card fraud. Let us know YOUR tips for curbing online shopping and spending!