At a time when we hear the terms “identity theft” and “credit card fraud” on a regular basis, we can sometimes forget how serious the issue truly is. According to data from the Federal Trade Commission, the number one consumer complaint filed with law enforcement in 2014 was identity theft. This terrible incident happens far too often for fraud protection not to be a major concern when looking for the best credit cards. The best way to start protecting yourself? Let’s start with learning more about fraud protection and what you need to look out for in credit card reviews when shopping for the safest card for you!
Primary Focal Concern: Fraud Protection
So, why is fraud protection something that should be at the forefront of your credit-card-hunting thinking? Besides the feeling of violation you experience when someone commits fraud against your account, you could have negative repercussions affecting your credit rating long term. Not having a credit card with good fraud protection, combined with not checking your credit score and credit report on a regular basis, is a recipe for disaster.
Improper information will begin to surface on your report that could lower your creditworthiness, or you could end paying bills late because you did not catch the fraudulant activity in time. When it comes to fraud, you don’t want to find out about it after it’s too late to do anything. This is important when it comes to doing your research on credit card reviews and making the smartest, and safest, credit card choice.
Don’t Fear Fraud. Fight It! Credit Card Reviews Help You Make the Safe Choice
Understanding how important fraud protection is to your credit security is the first step in finding the best credit cards for you. Different credit card issuers may provide additional benefits in this arena, such as protection from liability in the instance of fraud or real-time alerts of suspicious activity. As always, to be a money master and credit connoisseur, you need to do as much research on your options as possible before making your decision.
A report published comparing 24 of our nation’s best credit cards in regards to fraud detection, prevention and resolution found that credit cards issued by retail stores are the most vulnerable to fraud. These companies tend to miss indications of fraud due to a lack of attention to detail, allowing more opportunities for hackers to access your information. Remember the Target incident?
It’s always wise to check regularly on your credit report and credit score, even with a fraud-savvy credit card company backing you. It’s your financial future, after all.
