All credit card issuers have to deal with the threat and results of identity theft for their customers. While most credit card issuers have policies in place, Discover was ranked as the best in the industry by Javelin Strategy and Research.
According to the latest industry survey by Javelin, Discover was the best amount the 26 credit card lenders surveyed at straightening out an incident of identity theft. The credit issuers were judged on fraud prevention, detection and resolution, based on research from Web sites and calls to customer service representatives.
Discover also ranks second in both detection and overall fraud coverage.
Lenders have stepped up efforts to combat identity theft and other types of credit card fraud in the past few years, as the number of incidents and the complexity of the schemes being used increases.
But it’s not all up to the credit card companies. Consumers must also do their part. If you haven’t checked your credit report lately, this should be your first step. Be sure to check the reports from all three bureaus. Check for any fraudulent or unauthorized entries.
When you use your credit card in public, keep your eyes on it at all times, and get it back as quickly as possible. Be careful who you give your card to. Don’t give out your number over the phone unless you initiate the call and are sure of the person on the other end.
Never respond to e-mails that request your credit card information or those that request you go to another site to “verify” the information. This is likely a phishing scam.
Shred all receipts and statements that you don’t need to keep on file. If you do keep them, make sure they are in a secure place.
Never sign a blank credit card receipt, and in areas that are blank on the receipts you receive, be sure to fill in an amount or draw a line through it, to prevent any additional charges from being added.
If you suspect you have been victimized, contact the card issuer immediately.
