Identity Theft Credit Cards: What CC Companies Do to Protect You

With so much information at your fingertips these days, identity theft has become a huge issue in the United States and credit card companies are looking to help their clients avoid identity theft at every turn. Identity theft credit cards provide protections available to you for no extra cost, and give you that added security to put you at ease when using your credit card. Each credit card company will offer different identity theft credit card protection for you, and it’s best to know whats out there when applying for a new credit card.  The following is a breakdown of four major credit card companies, and how they deal with indentity theft:

Discover’s Identity Theft Credit Card Protections

  • Credit File Montitoring – All three credit bureaus are monitored for unusual activity every business day, if anything is found that could indicate fraud, you will be contacted promptly by means of an email, text message or mail.
  • $25k Identity Theft Insurance – Provides each client theft insurance up to $25k with no deductible for expeneses associated with identity theft (not for New York residents).
  • Expert Identity Theft and Credit Report Advisors are always on call to answer any questions.

American Express Identity Theft Credit Card Protections

  • Authorized User Verification – When using your American Express Card at some retailers, you will be asked to provide your billing zip code, or your CID (Card Identification Digits) and American Express will compare the numbers to what they have on file.
  • Fraud Protection Guarantee – means you won’t be held responsible for any fraudulent charges when you use your American Express Card.
  • Account Alerts – You can get important information pertaining to your account, you can get notification of when your payment is due or received, when irregular account activity is detected or when you are approaching your line of credit/spending limit.

Visa Identity Theft Credit Card Protections

  • Verified by Visa – Program that you must sign up for and activate your card with a personal password. You’ll get extra protection when you shop at online stores that partipate in the program.
  • Zero Liability – You have no risk for unauthorized purchases
  • Continuous Monitoring – Visa has several fraud screening solutions that flag suspicious activity on your account
  • Identity Theft Assistance – Free and confidential assistance if your identity is stolen
  • 3 Digit Code – Card Identification number to assure the customer is in possession of the card

Mastercard Identity Theft Credit Card Protections

  • Rules for Business Accepting MasterCard Credit Cards – There are established rules retailers must follow in order to accept MasterCard cards which protect your account data throughout the transaction process.
  • Security Innovations – MasterCard has many security innovations from holograms and the tamper-evident signature panel and card validation codes.
  • Fraud Detection – Multi-level fraud monitoring system which watches for suspicious activity. If something is found, they contact the lending bank and the customer.
  • Collaborating with Law Enforcement – MasterCard works closely with the FBI, Secret Service and other law enforcement agencies to stop and prevent future fraud.

Who’s the best when it comes to identity theft credit cards?  I don’t know…you make the call.  I would take this information into consideration, as well as the offer information of course, and also my post on “How is Credit Card Interest Calculated?

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