SAN FRANCISCO — The $29 billion Navy Federal Credit Union has one of the best credit card programs in the country when it comes to protecting its cardholders from credit card fraud, according to a recent research report from a noted card firm.
Javelin research prepared the 2007 Card Issuers' Identity Safety Scorecard, a report which listed Navy Federal's Platinum MasterCard program as fifth in the entire credit card industry for card protection, a designation it shared with Bank of America's Visa Platinum card, the Blue card from American Express, the Discover Platinum card from Discover and First National Bank of Omaha's Platinum Edition Visa (these two tied for third on the list), and Citibank's Citi Platinum Select.
"Card issuers have a golden opportunity to increase loyalty and retention, and strengthen relationships and their brand reputation, by giving consumers simple identity fraud prevention tools they like to use," said James Van Dyke, president of Javelin Strategy & Research in a prepared statement announcing the report. "Identity fraud is a major pain point for consumers and can damage the relationship between the consumer and the card issuer."
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