Family Finances: Shopping with credit card first step toward happy holiday
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It may be tougher to get your money's worth when you shop this holiday season......
Quality and workmanship are declining while fraud is increasing. Customer service -- both by merchants and credit card issuers -- often is poor. And some merchants may not be receptive to issuing refunds.
The good news: There are more online places to shop. It's easy to do your research ahead of time. And there is greater competition for your business, which can translate into lower prices.
The great news about our country: It's a stickler for disclosure. Often, you can learn a lot in advance simply by reading fine print before you buy.
Here are some rules of thumb for your holiday shopping:
Shop with credit cards. They generally provide the best protection against identity theft, faulty merchandise and computer mistakes.
Understand a store's refund policy. Check restocking charges and warranties.
Keep all receipts and Web site printouts.
When shopping online, only do business with companies you know. Don't overlook shipping costs, which can be tough to find on a Web site, and check the return policy.
Never put sensitive information in an e-mail or click on an e-mail attachment or hyperlink -- even if it appears to be from a merchant you're using. Be careful about entering sensitive information on the merchant's Web site. Check first for a padlock and read the privacy policy.
Be careful that you know the dimensions, manufacturer and details of the item you're buying online or in a catalog. Photos can be misleading.
Be sure a merchant will ship your gift on time. An online merchant is required to disclose the shipping time in advance. If he or she doesn't, it is assumed to be 30 days. You're entitled to a refund if the agreed-upon time period is not honored. In that case, be sure to write your credit card issuer to stop payment.
Determine in advance the model number or other identifying number of the item you want so you can better compare prices.
Don't agree to offers in any solicitations that you have not initiated -- either by mail, telephone or e-mail. If you're interested in an offer, check the company's phone number and call that number yourself.
Buying at an Internet auction? Check the seller's feedback rating. Set a top price, factoring in shipping costs.
Be particularly careful buying jewelry. The higher the karat of gold, the greater the proportion of gold. Such terms as like "gold-filled," "gold-plated," "gold-overlay" or "gold electroplate" are mostly base metal. When buying pearls, natural pearls are rarest. Cultured pearls, grown by mollusks but with human intervention, are more expensive than man-made imitation pearls. Have your jeweler write on your sales receipt any information you relied upon while making your purchase, such as the stone's weight or size.
First Published December 1, 2006 12:00 am
