Your online line of credit is a crucial safety net for your finances. Knowing you have cash on standby, available at a moment’s notice, allows you to sleep at night.
For all its advantages, you are at risk when you use an online line of credit. An unsecured line of credit carries the same amount of personal information as any other financial product – from simple checking accounts to installment loans. A fraudster would love to get their hands on that information.
It is fortunately not a foregone conclusion when using an online credit line that fraud will occur. With the right habits, you can depend on your safety net without worry.
1. Use trusted sources of information
Financial institutions with weak security are deliberately targeted by hackers to gain access to your information.
Although you can’t change a company’s security protocols from the outside, you can choose the financial institution you do business with wisely.
Make sure your lender takes your security seriously by looking at their security policies. You can also find out about the reputation of a financial institution online.
CC Flow Line of Credit online reviews from Trustpilot or Site Jabber, for example. Check out previous users’ reviews to get an insider’s perspective.
2. Protect your personal information
Access to your personal information is based on a need-to-know basis. The only people you should share this information with are your lender and trusted retailers.
- Numbers of accounts
- Password for logging in
- Contact information
There’s a good chance your financial institution will contact you by email since it’s an online line of credit. You should always ensure that the email is coming from the correct address and not from Hotmail or Gmail.
Furthermore, lenders will never ask you to respond to their emails with any personal information. You’ll be redirected to their online platform to take care of your account. You can be doubly sure that these links will take you to the right place by hovering over them before clicking.
3. Make sure your passwords are strong
The number of brute force attacks grew by 670 percent last year. A hacker attempts to guess your password until he or she cracks it using this hacking technique.
You can block a brute force attack even if the fraudster uses the latest ciphers to hack your account with a strong password. The best passwords are at least 15 characters long, and they combine letters, symbols, and numbers in random order.
The most important aspect of a strong password is that it is unique. You should not use the same email or password for multiple accounts. This makes them all vulnerable to hacking.
4. Make sure your devices and networks are secure
Make sure you only use a trusted device and network to enter your strong password when accessing your online account. If this is the case, you’ll need to wait until you get home to check your line of credit.
It’s a bad idea to use the free Wi-Fi at Starbucks. The connection is unsecure, so anyone within range can access it. Fraudsters know how to exploit this shared connection to spy on your activities, peeking at passwords and account numbers.
The bottom line
It is possible to have security when using a credit line. Adopt these tips into your financial routine to prove this. By using your online line of credit, you’ll be able to protect your identity.