😮 Last winter I got myself a credit card from Bank of America.
Lenore, reading your post about how you went through the same nightmare I did with a marketing/advertising company in regards to the Proactive purchase, reminded me about my new credit card, and how I use it to purchase things on the Internet.
I used to have a credit card with BofA years ago, but I had let it lapse; I didn’t use it for a long time. Simplify, simplify has been my motto 🙂 , so I only use one credit card so I can track how much I am spending every month.
I should tell you what happened to me…
The reason I am posting about acquiring this particular bankcard is to tell that BofA has an Internet shopping feature that is attached to the use of their credit services. This is a new feature for BofA, and I have used it; I am very satisfied with how it works.
The new feature on the BofA credit (Visa) card is called ShopSafe.
How ShopSafe works, is you go into the ShopSafe feature on your BofA bank secure, credit statement page, and you select the ShopSafe feature. You are then taken to a page where you choose the amount of money you do not want to exceed for the temporary credit number you are setting up for shopping on the Internet.
You have to open a new, separate, temporary number for each merchant you want to deal with on the Internet. Just print out each ShopSafe bank page, and it is easy to track who you used it with, and how much you charged on it.
The temporary credit number can be used more than once but each number is limited for use with only one merchant.
That merchant is the first one you make a purchase with each time you use a new number.
You cannot exceed the amount of money you have designated on the card that you set as your limit.
You don’t tell the merchant that you have a set limit.
You don’t tell the merchant that the number is a temporary number.
The merchant will be paid by BofA, and has no need to know that you are using the ShopSafe feature of BofA credit services.
The merchant cannot exceed the dollar amount you have set for the temporary number you give them over the Internet. This feature protects you from scam artists who will tell you one price, and turn around and charge your credit card a different amount!
The merchant cannot continue to place charges on your temporary credit card unless you open a special ShopSafe number designated for repeat, monthly payments. This feature stops the scam that was pulled on both Lenore and I where the marketing group came back, and started charging our credit cards each month, after the initial purchase.
If something goes wrong with the transmission of the number you have sent to the Internet merchant, the person(s) who have intercepted your credit card number can only charge up to the set limit you have designated.
You specify how long each charge number will be usable.
I never place more than ten dollars over the amount I am figuring on spending with a merchant, and I never go over 2 months as the time limit. It’s up to you to decide what amount and time limit you want for each temporary card number.
This new feature, SafeShop, has few flaws. .
Why did it take so long for someone in banking to figure this one out? 😮