Credit Card Issuers Ranked By ID Theft Strategies
Identity theft is one of the most serious crimes facing Americans today. Identity theft insurance plans are a booming business, celebrated for the assistance they give consumers in protecting their identity and helping to clean up the mess, should a theft occur. However, credit card companies themselves have also stepped up their efforts to help prevent, detect and resolve identity theft incidents.
A Javelin research study released earlier this month rated credit card issuers in each of these three areas, based on extensive surveys of fraud victims and the companies themselves. Overall, Bank of America earned top ranking, followed respectively by Discover, FNB Omaha and US Bank.
In the “Prevention” category: Bank of America, then FNB Omaha and Discover
In the “Detection” category: American Express, then US Bank and Bank of America
In the “Resolution” category: Seven card issuers shared top ranking — American Express, Discover, Bank of America, JP Morgan Chase, WaMu, Wachovia and State Farm Bank.
An article on BusinessWire points out that all leading credit card issuers do have zero-liability policies on fraudulent purchases, but only four of 10 issuers reverse charges within 24 hours. It further points out that a major protection for card holders is paperless billing. Receiving financial statements electronically drastically reduces the chances a thief will succeed by sifting through a person’s mail or trash. But ultimately, it’s good to have the credit card on your side.
April 23rd, 2008 at 12:10 am
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April 23rd, 2008 at 12:28 am
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April 23rd, 2008 at 1:00 am
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April 23rd, 2008 at 1:23 am
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April 23rd, 2008 at 1:30 am
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April 23rd, 2008 at 1:44 am
[…] Credit Card Issuers Ranked By ID Theft Strategies Identity theft insurance plans are a booming business, celebrated for the assistance they give consumers in protecting their identity and helping to clean up the mess, should a theft occur. However, credit card companies themselves have … […]
April 23rd, 2008 at 2:51 am
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April 23rd, 2008 at 5:05 am
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