With all these security breaches nowadays including passwords and credit card numbers being leaked/stolen, it is important to be cautious about where you type important information online.
I personally do not trust the security of many websites, and feel like I should not allow them to process or store my credit/debit cards. Unfortunately, sometimes I have to do that.
In addition to taking the risk and rely on your bank or credit card company to reimburse for transactions made on your compromised card, there is in fact a way to protect yourself!
Privacy.com does just that and more…
Virtual Credit/Debit card numbers
In order to keep your card numbers private and not allow the less secure sites process/store them, you can generate a new credit card number for every transaction/subscription you want to make online.
Those virtual numbers are then connected to your bank account (source of funds) that Privacy.com withdraw the money from.
You are in control!
You maybe wondering that since these numbers are essentially connected to your bank account, how is that more protection than what you already have with traditional cards.
The answer is the control that you have over these virtual numbers. You can set the card to only work with one party, set a limit on the one transaction or the life of the card, and you can even set the card to “burn” after that transaction. Yes, burn, as in it would not exist anymore and would not allow any transactions.
Transaction via Privacy.com cards can also have a generic description that will show up on your funds source (bank account) statement to make these transactions more private.
Here is an example of how I used this recently
So this Facebook ad showed up on my feed, and I thought, “hmmm, they claim it is free, I’ll help them to make sure I get it for free…”
You might think this is already free, but if you look closely you will see that you must pay shipping and handling – fair enough – but the catch is that by adding your credit card you also sign up for a free trial monthly subscription that costs $59/month after the first month. We all know how hard it is to remember to cancel those “free” trial offers (that is when they actually allow you to do so)
This website has no way to cancel your subscription online, you must call a 1-800 number to cancel (Good luck with that!)
So, instead I signed up for the deal, and by the way I do not put my real email address for anything online that I do not care about. So I used Mailinator.com where you can just type email@example.com and you instantly have a mailbox that can receive emails.
Finally, I generated a credit card using Privacy.com and chose to have a limit of $1.95 for the lifetime of the card and made it a “burner” card, so once it is used it once it will be deleted.
They did try to charge me the $59 after the first month, and off course it was declined 🙂
How cool is that?!!
-I am not affiliated with Privacy.com in anyways
-Privacy.com currently is invite-only and cannot be used without an invite.