Credit cards ranked for safety

Looking for a safe credit card? Bank of America’s Visa Platinum Card was rated tops in a recent study by Javelin Strategy & Research in California. The rating is based on the bank’s card-security services and technology, as well as its practices for secure handling of consumer information. The second-highest was American Express Blue, followed by Discover Platinum, First National Bank of Omaha’s Platinum Visa, Citi Platinum Select, and Navy Federal Credit Union’s Platinum MasterCard.

The Javelin study also found that some issuers lack security safeguards. Only 24 percent let cardholders either place limits on cash advances or not allow them altogether. And 56 percent require cardholders to provide their full Social Security number to interact with the company by phone, the Web, or mail.

For our advice on choosing and using credit cards wisely, click here. —Anthony Giorgianni

Comments

[raquel]

I've been having a bad experience with my Citicard. They keep on changing my payment due date by a couple of days and every month is a different day until I finally missed my payment by 1 day and then they charged me a late fee. To me that seems like a scheme to take advantage of the customer.

[Angelika]

I have been a citicard holder since 2001 and now I am having some serious problems with Citicard at this time. For the second time this year they have reduced my credit limit as I am paying the balance down. Their reasoning is that my credit score and debt/income ratio have deteriorated when in fact they have been improving. I have not missed payments and have paid much more than the minimum due. I feel this just a scam to keep one above the 50% balance on the card so that it negatively reflects on the credit scores. I have tried to resolve this with them but they now question activities on my account. Why...because I have charged only one thing in 3 months to the card? And the supposed to 24 hour available specialist is not available.

[donalddworken]

Customer service for Citicard and CapitalOne credit card is awful. They made it an exhausting job to provide evidence when I disputed charges, for coins, some which were never delivered, some that took over a month to arrive, and one in which they deliberately sent the wrong coins.They placed the charges on the day I ordered,and then refused to remove the charges despite the fact that I returned everything shipped.They don't require any detailed evidence from the merchant other then he shipped it, and someone signed for it.

[Bob]

I have also been having problems with Citibank lately also. On my most recent card statement the due date was 8 days after I received the statement. Citibank tells me that there is a software glitch that creates a shortened due date because I pay my bill on time! They promise to address the situation, but this clearly appears to be a trend.

[abuamy]

Citi Cards reduced my credit limit. In their notification letter, they cited a credit rating report they received from Experian. Isn't this a variation on Universal Default?
I have a perfect payment history with Citi Cards and with all my other creditors, except for one, which was disputed, not late.

I've decided to close my checking account and IRA brokerage accounts at Citibank. The only reason I'm keeping the credit card is to allow my kid to buy gas when needed.

[Angie]

I too have had problems with Citibank. I have been a customer since the early 1990's. I recently made a late payment. My interest rate sky-rocketed from 4.24% to 28.99%. I called the company and asked to speak to a manager. The manager told me their was nothing that could be done. I needed to show 12 months of on-time payments. I asked about the previous 18-19 years. They stated that did not count. I think it is a cheap way to recoup the money they probably feel I owe them. I am moving my account ASAP. I can't believe we bailed them out just so they could turn around and treat us like dirt. I will be telling everyone I know how horribly they are treating a long term customer. I am so upset, I will probably call my local government representatives. Beware.