Discover’s Free Service to Help You Protect Your Identity
At a time when so many institutions have been compromised by cyber crime, Americans have every reason to be concerned about keeping their personal information from falling into the wrong hands. In 2016, identity fraud in the U.S. increased by 16% over the previous year, affecting 6.15% of U.S. consumers â€” that is, more than 15 million people.
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When criminals gain access to such private information as your Social Security number and other personal information, they could use this information to apply for new accounts in your name or wreak other potential financial havoc on your life.
Discover Alerts Help You Protect Your Identity
Discover announced Social Security number alerts as a benefit to credit cardholders. Discover cardmembers can activate the service that monitors thousands of risky websites where Social Security numbers may appear.1 When a customer’s Social Security number is found on one of these sites, the customer will receive email or text alerts after enrolling.
Also as part of the benefit they activate, Discover cardmembers will be alerted if any new credit cards, mortgages, car loans or other accounts appear on their ExperianÂ® credit report.1 This credit report monitoring is done on a daily basis, and these alerts can help let customers know if their identity may have been compromised.
Why is Discover Offering Identity Alerts?
When considering ways to protect your Social Security number and personal information, you may not think to look to your credit card issuer.
According to Laks Vasudevan, vice president of Global Products & Solutions at Discover, consumers continue to worry about the sensitivity of their information online, and Discover is introducing this feature in order to help cardmembers stay ahead of cyber crime.
Discover already offers several tools that help protect against fraudulent activity on credit cards. “We are proud to be presenting this new feature,” Vasudevan says, “which goes beyond the Discover card account” by monitoring both the cardmember’s ExperianÂ® credit report and thousands of risky websites for indications of potential identity theft.
Other Ways Discover Helps Combat Fraud
Discover offers numerous other security benefits and tips. One fraud prevention feature offered by Discover is Freeze itÂ®, which allows customers to prevent new purchases, cash advances, and balance transfers when their card has been misplaced.2 When the card is found, the customer can easily un-freeze their card, or have it replaced if it never turns up.
Plus, Discover monitors every purchase is monitored to detect unusual activity, and is backed by a $0 Fraud Liability Guarantee, which means cardmembers are never responsible for unauthorized purchases on their accounts.
By alerting customers to the possible misuse of their personal information â€” and by adding the free Social Security number and new account alerts to its existing offerings â€” Discover is strengthening its commitment to help customers combat potential cyber crime.
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1. Discover Identity Alerts Disclosure: Discover Identity Alerts are offered by Discover Bank at no cost, only available online, and currently include the following services: (a) daily monitoring of your ExperianÂ® credit report and an alert when a new account is listed on your report; (b) daily monitoring of thousands of risky websites known for revealing personal information and an alert if your Social Security Number is found on such a website. This information is intended for, and only provided to, Primary credit cardmembers whose accounts are open, in good standing and have an email address on file. The Primary cardmember must agree online to receive identity alerts. Identity alert services are based on Experian information and data which may differ from information and data at other credit bureaus. Monitoring your credit report does not impact your credit score. This benefit may change or end in the future. Discover Bank is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. See Frequently Asked Questions.
2. Freeze itâ„ : When you freeze your account, Discover will not authorize new purchases, cash advances or balance transfers. However, some activity will continue, including bills that merchants mark as recurring, as well as returns, credits, dispute adjustments, payments, Discover protection product fees, other account fees, interest, rewards redemptions and certain other exempted transactions.