Protecting Personal Information When Applying for Credit Cards Online

Applying online for a credit card is now generally considered the norm. Online applications are convenient, easy to fill out, and fairly quick with approval decisions. However, applying online for a credit card requires a lot of personal information, so it’s important for potential cardholders to know how to safely apply without compromising their information.

Use Secure Websites

Most banking websites have high levels of security, but there are a few things applicants can look for to ensure their safety. Customers should make sure that the start of the URL is https (including the s) and be on the lookout for the padlock icon. There are scam websites that look shockingly like banking websites and offer credit card applications to obtain personal information. These sites are called “spoof sites” or “lookalike sites.” Anyone unsure of the legitimacy of a site can search for the address of the site they wish to visit and type in the address themselves—and avoid navigating to the first search result without double-checking. Another tactic is to start on the financial institution’s main website and use their internal links to get to the correct application page.

Employ Strong Passwords and Multi-Factor Authentication  

Passwords and multi-factor authentication protect personal information linked to accounts. Things that users can do to create a strong, safe password include:

• Using symbols, numbers, uppercase and lowercase letters
• Creating a longer password (many sites require a minimum number of characters)
• Avoiding personal information that is publicly available (birthdays, usernames, email addresses, home addresses, pets’ names and so on)
• Creating unique passwords for different sites
• Using a random password or a password generator

Multi-factor authentication can also be extremely beneficial. It requires multiple steps and devices to verify a user’s identity and log into accounts.

Watch for Phishing Scams

Phishing scams occur when scammers pretend to be a legitimate company, usually a financial institution, and trick targets into giving out their personal banking or identity information over the phone or email.

Some of the most common phishing scams involve claims that customers need to update account details or run an immediate security check. Scammers may claim an account has been compromised, then request answers to security questions or demand the person being defrauded go to an imposter website to fill out information.

The general rule of thumb is to never provide information or security question answers through email or over a phone call that originated from a “company.” Most valid companies will never phone or email their customers for information. If someone is unsure, their best bet is to call the company directly.

Use Personal Devices and Secure Networks

When applying for a credit card online, it is always best to do so from personal devices and secure, private Wi-Fi. Communal devices or public Wi-Fi are far less secure and are an uncomplicated way for a scammer to get someone’s personal information.

Monitor Credit Reports

Frequently checking credit reports can identify possible identity theft and allow for immediate action to be taken. A credit monitoring service provides alerts about customers’ credit activity and any suspicious activity. The credit monitoring service can be contacted if abnormal activity is discovered, and they can help the cardholder resolve the issue with the financial institution.

Watch for Red Flags to Safely Apply

No one should ever share their personal information through email or text. If applying online for a credit card, make sure all documents and personal information are safeguarded by using the steps discussed above. Users should be on the lookout for shady links, websites that don’t seem quite right and anyone urgently demanding personal information. It is recommended that anyone who thinks their personal information has been compromised contact the financial institution and immediately file a report.

Generally speaking, applying for a credit card online is safe and secure. Knowing what to look for can help to keep personal information protected.