Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

Outdated technology leads to increase in credit card fraud

[Wednesday, June 22nd, 2011]

The frauds related to debit and credit cards in the United States are on the rise. One of the recent surveys have revealed that over 33% of the card holders in the country have reported charges of fraud related to credit and debit cards. This increase in fraud can be attributed to the outdated card technology being using in the US which have fewer security measures as compared to the technology adopted by many other countries in Europe.

Consumer Reports’ Andrea Rock says that it is not surprising the consumers in the United States are easy victims of card related fraud. This is because of the outdated technology that we continue to use in this country that lacks the required security measures. She went on to say that the information that Americans needed to complete their online or offline transactions on their card in stored on the magnetic tape of the card in the unencrypted form making it susceptible to fraud. This stored information can be easily stolen and transferred on to another duplicate card.

Rock also said that fraudsters preferred stealing information from debit cards as compared to credit cards because these cards can be easily used to draw cash from the nearest ATM instead of using it for paying for various purchases at stores.

Countries in Europe have safer debit and credit cards since they have switched over the “chip and pin” technology that is safer and provides for data encryption. A unique identifying code for each transaction further strengthens the security measures on these cards.

Read also

The Average Credit Score in the U.S. Reaches Its Peak
[September 13th, 2019]

FICO, or Fair Isaac Corporation, is a data analytics company best known for its credit scoring model. As the FICO’s official website says, the FICO® Score is currently used by 90 of the top 100 largest U.S. lending institutions.

Continue reading ››

New Marriott Bonvoy Bold Credit Card VS Marriott Bonvoy Boundless Credit Card
[June 21st, 2019]

A short time ago, the largest world hotel chain – Marriott International together with Chase Bank have pleased their customers with a new hotel credit card – the Marriott Bonvoy Bold™ Credit Card. Marriott loyal fans are most likely aware that the Bold card is not the first Marriott and Chase joint credit card. Their first co-branded card is the Marriott Bonvoy Boundless™

Continue reading ››

New Apple Card Coming Soon
[April 3rd, 2019]

There is already a Barclaycard Visa with Apple Rewards credit card, Apple Cash card, and recently Apple announced a new card – Apple Card. It is an innovative credit card that will be available in the U.S. this summer.

Continue reading ››
Copyright © 2003-2019 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.