If it hasn’t happened already, there’s a pretty good chance one or more cards in your wallet will be compromised.
Card fraud affected 7.5 million Americans in 2012 (the latest data available), with total card fraud loss reaching about $8 billion, according to Javelin Strategy & Research. ACI Worldwide and Aite Group found in their 2012 report that 42 percent of U.S. residents had directly experienced fraud over the previous five years. That doesn’t include the 40 million credit and debit card accounts that were accessed during Target’s massive breach in December.
All cards in your payments arsenal are undoubtedly at risk, but are certain cards more vulnerable to fraud and/or data breaches than others? There are a lot of factors to consider when stacking payment methods against each other.