Credit card users will attest to experiencing distress and anxiety in the event that they lose their cards or have them stolen.
Listening to these customer’s needs, Discover has unveiled a new tool for managing credit cards to prevent fraud. They have come up with a revolutionary tool that can remotely switch their credit cards on or off using a mobile device, online, or over the phone.
This new feature is aptly named ‘Freeze It,’ and it is available for free to Discover Card members.
It’s a preventative measure that benefits both consumers and Discover. If a cardholder loses their card, they can freeze the account at any time, and if it happens to miraculous show up between a sofa cushion for example, they can then reactivate it. This may cut down on the costs of reissuing cards, and the inconvenience of cardholders updating payment details with new cards.
Julie Loger, Senior Vice President of Marketing, explains that ‘Freeze It’ is designed to be a fast and simple security feature to help prevent increasing cases of fraud. Freeze It can literally stop all transactions on your credit card, and then you can switch them all back on if necessary.
Any customer interested in controlling their finances should jump at the opportunities that Freeze It provides, which include detailed transaction alerts even when transactions have been declined, added account control, and easy navigation and activation from any mobile device.
Other credit card providers should take note of this value added feature because it is sure to make a significant impact on mobile banking and information availability.