African-Americans hold almost a trillion dollars in buying power. Much of that money is spent online. Black people do more online shopping than any other group and as a result we are more vulnerable to retail tracking and credit card fraud.
Privacy and security is hard to come by in the digital age. Seems like everything is stored in somebody’s database and tracked; and these are the good guys. The bad guys are hacking something everyday. Your credit card information is always vulnerable to theft. If it is stolen you get stuck with the hassle of calling your bank for a new one, or waiting to see if yours is misused.
A new service known as Privacy.com lets you create virtual, disposable credit card numbers or burner cards, that deactivate instantly if stolen. Privacy.com actually creates a disposable card number that protects your security and privacy when you shop online. Privacy.com is a VISA card that can be used at any online store or anywhere VISA debit cards or gift cards are accepted. The cards are locked to a single merchant and you can make it a single-use or set transaction or monthly spending limits on them. The Privacy.com burner card does not require a credit check because it is not a credit card but works like a debit card. Spending limits are set at $1,000 a day and $2,000 a month.
Money on the card come directly from your selected account but the merchant does not see your account number or the credit cad number. The transaction process is completely anonymous.
People choosing to use the Privacy.com cards need to have an account at one of the following financial institutions;
- Bank of America
- Capital One 360
- Charles Schwab
- Chase
- Citibank
- Fidelity
- Navy Federal Credit Union
- PNC Bank
- SunTrust
- TD Bank
- US Bank
- USAA
- Wells Fargo
According to the Privacy.com website the number of banks is growing. If you don’t see your bank on this list send them an email at [email protected].
The Privacy.com service is only supported on Google Chrome and Mozilla FireFox and the app is available in the iOS App store. The company is working on getting other browsers on board with the service.
Now you know.
