July 18th, 2014

Security Improvements Still on Hold for U.S. Credit Cards

EMV Credit Cards

Visa, MasterCard, American Express and Discover are putting the pressure on: credit card issuers have until October 2015 to replace consumers’ credit cards with more secure EMV cards. According to a new report by the Aite Group, this means that 70 percent of credit cards in the U.S. will have EMV technology by the end of 2015.

Since EMV technology in credit cards is more secure than standard magnetic strips, this migration could curb the rise of fraud worldwide. In 2012 alone, credit, debit and prepaid card fraud resulted in $11.27 billion in losses, up 14.6 percent from 2011.

What is EMV?

EMV stands for Europay, MasterCard and Visa—the three payment processers that have joined forces to encourage more security and global usability among credit cards. EMV is the set of standards for the more secure authentication of credit card transactions worldwide.

Credit cards enabled with EMV technology contain a chip that creates a unique code for each transaction. It’s said to be more secure because stealing someone’s credit card information from an EMV-enabled card swipe is akin to using an expired password.

Eighty countries worldwide are migrating to EMV chip technology. The U.S. is one of the last of these countries to migrate, but most issuers have already announced their implementation plan in response to the October 2015 deadline.

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March 5th, 2013

5 Things You Can do to Protect Your Credit

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So far for National Consumer Protection Week we've covered 4 Ways to Keep Your Money Safe and How to Spot and Avoid Credit Repair Scams. Today we’re talking about what you can do to protect your credit from things like fraud and errors. Read on for five of our best tips.

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February 26th, 2013

4 Ways to Keep Your Money Safe

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Next week is National Consumer Protection Week (NCPW). While that doesn’t sound very exciting, it is very important to protect yourself, your family and your finances from would-be identity thieves. (Boo, thieves!) Here on the Credit Karma Blog, we’ll be sharing a few helpful tips on how you can protect yourself. First up, how to keep your money safe.

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September 19th, 2012

5 Facebook Privacy Tips to Prevent a Burglary or Fraud

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Facebook connects more than 800 million people across the globe. But the world’s largest social network can sometimes leave users wondering if their connections are putting their security at risk. There are strategies you can take to limit your vulnerabilities to a burglary or theft. By using sound judgment and enabling Facebook’s advanced security layers, you can better protect your privacy and limit what others see and know about you—particularly those unsavory types. Follow these five tips to stay safe on Facebook and other social media sites:

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September 7th, 2012

Why You Should Check Your Credit Report – Jim’s Story

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The experts always advise that you check your credit reports regularly because you never know when someone may steal your identity or the credit bureau messed something up on your report. The statistics are not on our side.

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August 23rd, 2011

The Perfect Password, and How to Keep Your Information Safe

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We know you’re smart enough to avoid using passwords like the aforementioned “password123,” or your name plus your birth date. But as hackers get more sophisticated, so should you. There are a lot of different suggestions out there for how to build a great password. (Time magazine suggests using a dictionary word and replacing letters with numbers.) But a dictionary word can be cracked by a computer program relatively easily.

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