Credit Card Companies Are Capitalizing On Growing Identity Theft Problem
Looks like I am liking to collect the information on credit cards and passing it on to you too so that we all are aware of what goes on in credit card world. Remember, you should be aware of things related to credit card that you might ignore unknowingly if you hold a credit card and use it to spend offline and online on internet.
If you are not using the credit card, the only reason could be the “fear” of identity theft in your mind. But would you be alright if your credit card company charges you to stop identity theft. Will that small charge is worth saving your identity theft or the money you lost due to that?
True, identity theft has become such a problem that major credit card companies are implementing a monthly fee, not to prevent identity theft, but to ensure reimbursement after it occurs. The trend in recent years has been to repair the effects of identity theft as a complimentary service. But with the dramatic increase in the number of identity crimes, companies are revising their policies to where they only take action if the customer retains the responsive (as opposed to preventative) service for $10-12 per month.
Looking at the credit card market, I believe the credit card company shall take the responsibility of avoiding identity theft. I simply would not accept it, but would you? If you are not inclined to do that, it’s important to find the credit card that does not do this, by looking at the websites that do credit card reviews.
Interest fees, service fees, late fees, processing fees, transfer fees and “over the limit” fees already inconvenience card holders. Adding an identity theft fee is something that I would not accept. I would be looking at the credit card rating before I apply for any credit card and their terms and conditions certainly. Suggesting you do so as well.
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