What Type of Protection Does My Discover Card Offer
Consumers use credit cards for making purchases and paying bills online. Generally all credit card companies offer certain protections against theft and misuse for their customers. With identity theft commonplace in today’s society, all consumers must make sure they have protection in case someone uses their credit card to make unauthorized purchases. Although some credit cards provide more protection than others, most of the protections are standard — no matter the card.
Identity Theft and Fraud Insurance
Discover continuously monitors cardholder accounts and will text, email or telephone cardholders when it detects unusual account activity, such as the opening of a new account or new applications for credit in the cardholder’s name. Discover offers its customers insurance if their identity is compromised, with insurance of up to $25,000 to cover expenses for any losses incurred or expenses involved in correcting the situation.
Loss or Theft Protection
If a Discover cardholder’s wallet or purse is ever stolen or lost, Discover will wire the cardholder as much as $1,000 discover card emergency cash and mail replacement cards. Discover will not charge for cash advances on the emergency funds. Discover will also monitor the three major credit reporting agencies for 90 days following the loss or theft to ensure no one has attempted to open any credit accounts in the cardholder’s name.
Online Banking Safeguards
Discover uses the industry standard 128-bit SSL (Secure Socket Layer) technology to keep cardholder information safe when the cardholder accesses account information online. This technology encrypts card information beginning with the first keystroke, and that information remains encrypted until it reaches Discover, where it is decrypted and processed. So cardholders can feel comfortable paying bills online or accessing account balances.
Shopping Online Protection
For cardholders who like to shop online, Discover offers a secure online account number. This secure number is completely different from the cardholder’s credit card or account number, which is never revealed to the online retailer. Discover can use the same generated number for the same retailer each time the cardholder makes a purchase from that retailer. If the cardholder chooses, Discover can generate a different number each time the cardholder makes a purchase, no matter if it’s the same retailer or a different one.
Payment and Credit Protection
Discover cardholders can protect their payment history in case of an unexpected crisis such as hospitalization, disability or other event that may affect income. Discover will allow its cardholders to put their payments on hold for up to two years. Discover will also allow cardholders to hold off on payments for as long as 30 days if they are going through some nontraumatic events such as moving into a new home.