A simple idea to bring the web to millions of people who may be wary: a credit card with a low limit. I know I *could* get a low limit credit card, but it would take some effort and I'm not paranoid enough to go about it. Here's my idea:
From a bank you already have a credit card with. They give you another account, with a limit that you can set yourself online on their website (or that you can't change online at all for the really paranoid). So I can set my other credit card number to a max amount of $100. At any time, I can go to the bank's website, review the charges, and move them over to my real credit card. If I see something suspicious, I can cancel the limited card, apply for a new limited card online, and voila, no possibility of more fraudulent charges, I haven't had to cancel my real credit card, and I have a new number to use for web purchases. Like so:
CC#1: my real card, I get a paper bill for this, credit limit $2500, current balance $450
CC#2: first low limit account, saw fraudulent charges after using it to verify my age on... umm... nevermind what kind of site, canceled account, will be disputing those $70 in charges with my bank
CC#3: replacement low limit account, reviewed charges, transfered the $40 purchase at amazon.com to CC#1
Details to work out yes, but this could help get a lot of people who are reluctant to buy online more comfortable with the idea.
From a bank you already have a credit card with. They give you another account, with a limit that you can set yourself online on their website (or that you can't change online at all for the really paranoid). So I can set my other credit card number to a max amount of $100. At any time, I can go to the bank's website, review the charges, and move them over to my real credit card. If I see something suspicious, I can cancel the limited card, apply for a new limited card online, and voila, no possibility of more fraudulent charges, I haven't had to cancel my real credit card, and I have a new number to use for web purchases. Like so:
CC#1: my real card, I get a paper bill for this, credit limit $2500, current balance $450
CC#2: first low limit account, saw fraudulent charges after using it to verify my age on... umm... nevermind what kind of site, canceled account, will be disputing those $70 in charges with my bank
CC#3: replacement low limit account, reviewed charges, transfered the $40 purchase at amazon.com to CC#1
Details to work out yes, but this could help get a lot of people who are reluctant to buy online more comfortable with the idea.
