Card Study Shows Bank of America Tops in Security
Bank of America earned the title of Best in Class for Security in Javelin Strategy and Research’s 9th Annual Credit Card Issuers’ Identity Score Card. This is the seventh year in a row that the banking giant has earned this top-ranked position.
Javelin assesses each card company’s security features. The study looked at what each company is doing to protect its customers against credit card fraud.
The average score for all 24 financial institutions was 55%. Bank of America had an overall score of 70%.
USAA earned the award for Best in Prevention. Associated Bank and SunTrust tied for Best in Detection.
The lowest ranking companies for prevention were Nordstrom at 18%, Target at 22% and Cabela’s WFB at 29%.
With the prevalence of credit card fraud in America, it is becoming increasingly important to identify which credit card companies offer the best security services to their customers.
The following banks were involved with the survey: Capital One, First National Bank of Omaha, American Express, USAA, Citibank, Discover, Pentagon Federal Credit Union, PNC, Associated Bank, Barclays, Bank of America, BB&T, Navy Federal Credit Union, Cabela’s WFB, State Farm, Chase, Fifth Third, GE Capital Retail Bank, Nordstrom, Target, U.S. Bank, RBS, SunTrust and Wells Fargo.