Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE
RequestCredit.com 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. RequestCredit.com 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Outdated technology leads to increase in credit card fraud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 This increase in fraud can be attributed to the outdated card technology being using in the US which have fewer security measures as compared to the technology adopted by many other countries in Europe.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 This is because of the outdated technology that we continue to use in this country that lacks the required security measures.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

Nearly 100 Million Americans Store Credit Card Info Online
[June 19th, 2017]

Despite a common conception that older people are more reluctant to trust technology, especially when it comes to money matters, it seems the so-called “Silent Generation,” or those in their 70s and 80s, are the most likely to save their payment information on websites or mobile apps.

Continue reading ››

US Bank Now Offering Mobile Payments For Visa Commercial Cards
[April 15th, 2017]

US Bank corporate cardholders will be able to pay for transactions via Apple Pay, Android Pay, or Samsung Pay with their Visa cards, thanks to new functionality that makes US Bank the first financial institution to offer mobile payments for Visa commercial cards.

Continue reading ››

FICO Wins Cybersecurity Award
[March 3rd, 2017]

Online security has been a hot button issue ever since the advent of the Internet. The impact of cyber crimes greatly affects not only consumers, who may lose their identities and/or their resources, but also retailers, who lose customers and employee hours to dealing with the aftereffects of these crimes.

Continue reading ››
Copyright © 2003-2017 RequestCredit.com. All Rights Reserved
RequestCredit.com 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 RequestCredit.com can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The RequestCredit.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. RequestCredit.com 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 RequestCredit.com website are property of their respective owners.
Information in these articles is brought to you by RequestCredit.com 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.