Consumer Watch: Credit card protection

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by Andy Treinen

WHAS11.com

Posted on February 4, 2013 at 6:11 PM

Updated Monday, Feb 4 at 6:21 PM

LOUISVILLE, Ky. (WHAS11) – A recent study by CardHub.com found that the percentage of credit and debit card transactions impacted by fraud is relatively tiny and safeguards by card issuers are fairly strong.

Still, consumers can do some simple things to protect their plastic beginning with the card they choose for certain transactions.

“We recently did a study at Card Hub did a study evaluating cards and how much fraud protection they have ranging from credit cards to debit cards and prepaid cards. And we found out that credit cards offered the best protection when it comes to fraud,” SAID CardHub.com CEO Odysseas Papadimitriou.

CardHub found zero liability guarantees for the four major credit card networks – Visa, MasterCard, Discover and American Express.

Consumers don’t need to pre-register to qualify for those protections, though they need to report activity that may be suspicious. That’s why it’s important to keep tabs on credit cards online, even before a monthly statement arrives.

Another tip, fill in the blanks on receipts, like the tip field on the restaurant bill, even if you’re not leaving anything. Blank spaces can easily be filled in by fraudsters.

If you have a consumer issue you’d like us to look into, send an email to CONSUMWERWATCH@WHAS11.COM.

 

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