credit cards

Safest credit card to use

Friday, August 29
Posted 11 a.m.

Safest credit card

Javelin Strategy & Research released a scorecard this week of the security of credit cards. They looked at fraud prevention, fraud detection and fraud resolution. And the top three winners are:

Overall safest issuers: 1. Bank of America Visa Platinum, 2. American Express (Blue), 3. Discover Platinum and First National Bank of Omaha Platinum Edition Visa.

Fraud prevention: 1. Citibank Platinum Select, 2. Bank of America Visa Platinum, First National Bank of Omaha (same one as above) and Navy Federal Credit Union Platinum MasterCard, 3. Discover Platinum.

Fraud detection: 1. American Express (Blue), 2. U.S. Bank Visa Platinum, 3. Bank of America Visa Platinum.

Fraud resolution: This was a 12-way tie with American Express, Bank of America, Capital One, Citibank, FNB Omaha, HSBC, National City, Navy FCU, RBS National, State Farm Bank, Target and Wachovia.

One dismaying statistic they found is that 56 percent of the top card issuers still ask for a consumer's nine-digit Social Security number when dealing with them, either by phone, email or mail. Obviously, this puts a consumer at risk for ID theft.

Bankrate's Leslie McFadden covers ID theft and fraud, and many of her articles provide great advice on protecting yourself from theft. Her most recent is on what to do if you are a victim of a data breach, such as the gigantic one that occurred at TJX last year.

Still, it's nice to know that your credit card company will help you out if you're a victim.

Comments? Questions? E-mail me at plastic_rap@bankrate.com.

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Balance Transfer Cards 15.80% --0.00 15.80%
Cash Back Cards 16.42% --0.00 16.42%
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