Many consumers worry about credit card issues, such as overspending, high interest rates and fees, but security concerns should be addressed as well to avoid credit score damage. Most credit products carry fraud liability services, but a recent study conducted by Javelin Strategy and Research shows Discover Financial Services offers the best fraud resolution program.
The Card Issuers' Identity Safety Scorecard examined the identity fraud prevention, detection and resolution procedures of 26 credit card issuers to determine which creditor offers the best services.
"Discover routinely assesses and enhances its fraud prevention, detection and resolution systems to continue protecting cardmembers," said Carlos Minetti, Discover president of consumer banking and operations. "Prompt and decisive identity fraud issue resolution exemplifies Discover's commitment to security and safety."
Consumers should examine credit card issuers' fraud solutions programs before signing up for a product to ensure it carries sufficient protection. Individuals are also advised to read the terms and conditions of their credit card agreements to understand their rights and responsibilities.