Which card for security? Advice please

ianh11

Hi, I don't have any credit cards as I just use my debit card for everything, I've never felt the need for a credit card, until now. What I want is the best card for security, which I don't see any other posts about... Best rates, best deals, best cashback etc. etc. but the reason I want a credit card is the added protection you get when ordering goods online and from other countries.

I have heard of CCs in the past which throw in insurance on the goods you buy so that if you buy X and then drop it or lose it 2 months later you're covered.

On top of the statutory protection that comes with CCs and hopefully some thrown in extra protection on purchases it would also be nice if the CC came with the "webcard" application, which if you don't know, you use when ordering online.. you type in the transaction value.. if it's 22.99 you type in £23 and it gives you a unique, use once and throw away, card number with a unique security code. The card has a start date of the current month and expires the next month.. you can't be charged more than the amount you specify.. It's very handy for buying online from websites you aren't 100% sure about.

So, which credit card best fits my needs? I would pay the balance in full each month and only use it for the kind of purchases described so I don't care about interest rates.

pamplemousse

sorry l am not answering your question but just saying that this is a very important question that you have asked and something l keep asking about at various banks but never get a straightforward answer. thank you for starting this thread

ianh11

bump...

It's been a week and the only post is from someone wanting an answer. Are there really so few people that think this way? I see this as one of the few good uses for a credit card.

M_Thomson

ianh11 wrote: »

bump...

It's been a week and the only post is from someone wanting an answer. Are there really so few people that think this way? I see this as one of the few good uses for a credit card.

You haven't really phrased your original post very well. Are you asking what is the best card to cover goods incase of loss or accidental damage? Amex Charge and credit cards are the best for this. If you are asking about the best card in case of fraud the simple answer is that all credit cards will cover you against fraud if it wasn't you making the transaction wether on or offline. The only bank I am aware of that does the online card that you talk about above is Cahoot. You need to have a credit card already with them though. The Cahoot credit card is not available for new applications.

James

ALL cards are covered by the Banking Code, but it's just that a code and not law.

Since Chip & PIN has been introduced, IMHO there has been a liability shift for fraud, where a PIN has been used to authorise a transaction back onto the cardholder.

"In the past if your signature had been forged, by law the banks had to pay out. But there is no law to cover PIN Transactions."


BBC Watchdog Video Click Here.

Therefore to remove fraud liability issues you can opt out of using a PIN and continue to sign by getting hold of Chip & Signature Cards.

Another option (but is brand new) and for the card issuers to grasp is to use Chip & PRINT CARDS.

BBC Video click here.







If I'm vicitm of card fraud, how can I reduced the risk of liability to me.

ianh11

It may not have been written very eloquently but I think the post contains enough information to confer to people the meaning of the question I am trying to ask.

To put it briefly, I want the best credit card for security, including, but not limited to; cover against loss and accidental damage of goods purchased on the card once they are in my possession, fraud protection, and if possible a webcard application.

I already have a Cahoot account and so have access to their webcard, although I do not have a Cahoot CC. I believe other providers have offered the webcard application although I'm unsure whether there are any besides Cahoot that currently do so in this country.

ianh11

James wrote: »

ALL cards are covered by the Banking Code, but it's just that a code and not law.

Since Chip & PIN has been introduced, IMHO there has been a liability shift for fraud, where a PIN has been used to authorise a transaction back onto the cardholder.

I agree, I have spoken to people who have been told they will not get any money back because the banks have said, "it must be your mistake, chip and pin is totally secure", never mind the fact that it isn't. Do any CCs provide more cover against these situations than others? If not there must be some CCs that meet the other criteria.