Low limit Credit Card

  pj123 13:41 28 Apr 2005

Have seen a few threads that advocate getting a Credit Card with a low credit limit just for use on the Internet. Bearing in mind that Credit Cards will only protect you if the purchase is over £100. What do you class as "low". £100, £200 etc...

Does it really matter? The internet (to me) is just as safe as any other "cardholder not present" purchase.

Think of the restaurant, you give your card to the waiter and he/she disappears behind the scenes, that seems less secure than the internet to me.

  CurlyWhirly 14:39 28 Apr 2005

I also have a Credit Card that I *only* use for making small purchases like DVD's or CD's that I buy online from well established companies.
I have set my credit limit to £250.
I only use it because buying by credit card offers you more protection if the purchase is over £100 like you mention.

I don't incur ANY interest charges as I pay it off in FULL every month, so it is like an interest free loan.
I think it is very wise to use a credit card when buying online especially with all the phishing and fraud that's going on now, as at least you will have SOME protection in the event of something going wrong!

  Mr Mistoffelees 17:15 28 Apr 2005

"Think of the restaurant, you give your card to the waiter and he/she disappears behind the scenes, that seems less secure than the internet to me."

That is one of the most unsafe things you can do with your card, short of just giving to a known thief.

  g0nvs 18:18 28 Apr 2005

Never let your card out of your sight. Most restaurants will bring the machine "thingy" to your table.

  sunny staines 20:26 28 Apr 2005

don't go for low interest. move between 0% transfers and purchases.
use this site for advice on these cards, its a sight often metioned in various threads and i have saved hundreds over the last year using it click here

happy spending

  sunny staines 20:30 28 Apr 2005

sight should read sight

  mbp 22:01 29 Apr 2005

My Credit Card company (a well known one) said that I did not need a low limit card, as all my transactions were garanteed against fraud in any case.

But how long or difficult to prove that it was fraudulent?

  spuds 23:27 29 Apr 2005

These two American consumer websites might be worth a read on Low Limit credit cards and possible problems click here click here

Personally, I use one normal limit credit card for all my on-line and mail order purchases. My provider states in their terms and conditions, that they will safeguard any fraud attempts to any value.

  radi8or 05:21 30 Apr 2005

Hi pj123,

Get a Cahoot web card, you use a different number for each transaction and you specify amount.

click here

Regards Bob

  Forum Editor 08:25 30 Apr 2005

for online purchasing. It's used for nothing else, and although it doesn't have a particularly low limit I am reassured by the fact that (as with all cards) my card provider monitors the spending pattern. Their software builds a profile of my use, and it would spot anything untoward fairly rapidly, and contact me before allowing further transactions. This has happened on two occasions already - both times it was me using the card, but both transactionsd were larger than normal (I was buying laptops for clients), and it was comforting to know that I am protected to some degree in this way.

  Dumble452 08:53 30 Apr 2005

The only problem is that if you are a good risk and pay off your balance every month the issuer has an annoying habit of increasing your credit limit. Presumably to encourage you to spend more and eventually incur interest charges. In the end I got tired of telling them not to increase my credit limit. Touch wood I have had no bad experiences to date with making purchases on-line. Naturally I will only deal with secure sites.

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