Talk about 3-D – it’s dank, dark and dismal lately in the financial markets, as economists rearrange both their green-shaded visors and their rosy prognosis’ for the U.S. economy.
In fact, you can’t swing a dead loan portfolio without hitting an economist who’s changed his or her mind about the financial landscape, as bad news on jobs, consumer sentiment and rising foreclosure numbers dominate the headlines.
What’s a reputable bank customer to do? In a word, get creative. There are, after all, some good deals out there for financial consumers. Getting to them isn’t all that difficult either – as this edition of “Deals of the Week” will attest.
Leading off this week is Discover Bank (Stock Quote: DSC). The financial giant’s Discover Card is drawing recognition as the best of 25 card issuer’s products in terms of identity safety, according to Javelin Strategy & Research. The annual study by Javelin focuses on key card protection features, like fraud prevention, detection and resolution services.
Is that really a bank rate feature? You bet. According to Javelin, the number of U.S.-based identity fraud victims from 2008 to 2009 has increased 22% to 9.9 million, while the total annual fraud amount rose by 7% to $48 billion.
Consequently, card consumers stand to lose thousands of dollars if they’re the victim of card theft.
Javelin cites the following fraud protection steps taken by Discover that especially protects consumers:
- $0.00 fraud liability
- Regular e-mail alerts
- Credit score monitoring
- Electronic statements (they’re harder to steal)
- Fraud prevention education tips
When it comes to identity theft, not all credit cards are created equal. Discover Card is showing the way and, to stay competitive, the rest should follow.