PNC Bank Study Shows that Stolen Credit Card Reports... - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » PNC Bank Study Shows that Stolen Credit Card Reports Increase during Holiday Season

PNC Bank Study Shows that Stolen Credit Card Reports Increase during Holiday Season

PNC Bank Study Shows that Stolen Credit Card Reports Increase during Holiday Season
The content is accurate at the time of publication and is subject to change.

Credit cards offer a different version of generosity in the holiday season. There are cash back and credit card reward offers springing up all around to attract more spending through swiping. On the other hand this season of giving has in fact also become the time for taking.

This conclusion from PNC is based on its customer reports analysis from 2008 to 2010. PNC, the fifth largest bank in the country has three Visa cards on offer other than its other banking services. PNC did not disclose if the credit cards theft actually took place or the owners just misplaced the cards due to the stress and rush of holiday shopping. This increase to some extend is attributed to the card holders making use their cards more often. Mark Ford, consumer credit and debit card expert of PNC felt that the loss can be prevented many times, if the users follow the simple FDIC recommended security precautions.

Senior specialist of corporate communications, Emily Krull mentioned that the data on stolen or lost cards included PNC’s international clients` reports, but it was not possible for them to identify any specific region or countries which were more affected compared to others. According to Krull, it will not be possible for the company to publish exact figures for the 2011 end holiday period until the beginning of 2012.

As per the Federal law, companies cannot hold customers responsible for over $50 as unlawful credit card charges, in case they are made prior to the card being reported as stolen. In case the card has been reported as stolen prior to the charges made or the card is with the owner and the number is stolen, user will not be accountable for any charges from the company.

Important point to remember for the consumers is to get in touch with the issuing authority as soon as possible if they believe that their card has been stolen or lost for the problem to be sorted. The card can be cancelled to stop fraudsters from using it. It is possible to avert becoming a victim to credit and debit card fraud by following some simple steps.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

American Express Set to Buy Lounge Buddy
American Express Set to Buy Lounge Buddy

Posted: March 19, 2019

American Express is well known for their Centurion Lounge network, and now they are upping the ante with the purchase of LoungeBuddy, a digital platform designed to help people find and book time in airport lounges around the world. While… Continue reading

The New Luxury Card App is Launched
The New Luxury Card App is Launched

Posted: March 18, 2019

Luxury Card has rolled out their new app, giving cardholders access to a variety of features and benefits including, finding one of a kind experiences and chat in real time with Luxury Card Concierge Specialists. These specialists can help… Continue reading

Credit Card Debt At its Highest Level
Credit Card Debt At its Highest Level

Posted: March 15, 2019

U.S. credit card debt has surpassed all previous years hitting a whopping $870 billion in December of last year. This upswing, which brought the level of consumer debt to its highest point to date, occurred when credit card balances went… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!