0051 – Credit Card Tip for Holiday Shopping (or any other time for that matter!)
One way to avoid the safety issues involved with Holiday Shopping is to do your shopping at home on the internet.
- Avoids crowds
- The internet is always open
- Specials on shipping and lower prices make it financially attractive
- You aren’t likely to get mugged walking back to your car after shopping on the web
Shopping on the internet requires a form of payment other than cash such as a credit card, or a check card with a VISA or Mastercard logo, or paypal, or a paper check.
- Credit Cards are the most convenient method of payment.
- Widely accepted
- Most people have one
- Afford protection should security be compromised
The biggest problem I have with credit cards is the inconvenience that is caused if a card is lost or stolen.
- A card can be compromised by physically being stolen
- Having the information stolen by a crooked clerk
- Having the data being stolen with fraudulent online transactions
- Having the data being stolen from data bases
In our family we use a credit card to handle many of the recurring payments in our monthly expenses. This makes for a great time savings until I have to reschedule these payments to a new card because of a security problem.
This tip comes from Alex Haddox of the Practical Defense Podcast. Thanks to Alex we now have a single credit card that is used ONLY for recurring payments. That card is not in my wallet, it is in my safe. It is not used for holiday shopping online, it doesn’t leave the house.
This means that when I get robbed and my wallet is stolen I have one less problem to deal with. I won’t have to reschedule my automatic payments.