Capital One is make fraud detection a new level with its recently released Second look program. This new pilot program, which is currently available to some Member Capital One cards, is a free service that will help customers identify potentially unwanted and unseen expenses.
What's so special about the new Capital One program?
The Second Look program is the first of its kind because it goes beyond traditional fraud detection and examines the spending habits of the card holder to alert them to potential fraud.
We talked to Amy Lenander, Vice President for Capital One card, which stated that the purpose of Second Look Capital One is to help ensure transparency to its customers in a way that the helps to save money and feel more and more spending.
"We want to know customers we have back," she said. "Second Look is a great example of something Capital One is to look out for its customers - in this case, help stay customer over their spending. We believe that the role of banks should be to have the best interests of their clients at heart, helping them manage their finances, which is a powerful way we respect that. "
How does the Second Look?
Second Capital One look program is essentially a monitoring system which will send you an alert when the day he finds one of these three fees on your card :. duplicate costs, charges and recurring self-renewing subscriptions
duplicate charges
Second Look recognizes when you were charged twice for the same amount date by a single merchant. While Capital one said in a press release that he understands that most of these expenses generally can be explained, it also found that customers of two three overlook these potentially double loads . with its new fraud detection functionality, these duplicate costs will be reported to the customer and they will be notified by e-mail and provided with instructions on what to do if they decide to challenge the dual charge .
recurring expenses
We all recurring charges on our accounts, whether the monthly utility bill or a gym membership, but how many of we noted when there is an increase in these recurring fees? Capital One wants to help with this by sending you an alert when there is an unexpected increase on any recurring charges.
Following self-renewal
Whenever you are charged for the renewal of a subscription or membership, you will be alerted by Second Look. You can even be alerted any time a new charge of a free-to-pay service appears on your card. For example, if a service offers a free trial, and then charges you after the trial is up, you will be alerted.
How can I Second Look?
Currently Second Look is driven only some Member Capital One card, but there will be a larger roll to Capital One card brand consumers within weeks, according to Lenander. The best way for you to ensure you get that expedited fraud detection Capital One is to get a Capital One credit card. Here are some of the best cards Capital One.
Best Cash Rewards: Quicksilver Capital One Cash Rewards Credit Card
The Capital One Quicksilver cash rewards credit card is the perfect option for anyone to earn money for each of their purchases because it offers a generous cash 1.5% on every purchase. And, the best part of this credit card rewards is that the amount you can earn is unlimited. In addition, you also get a generous period Introductory APR 0% on all purchases (after which it returns to its standard APR purchase) and no annual fee, which is rare for most rewards credit cards.
Best travel rewards: Capital One Venture Rewards Credit Card
If you are more of a world traveler, the Capital One Venture card Rewards credit is the best option for you because it allows you to earn unlimited 2 miles per $ 1 spent on all purchases. In addition to the generous miles you can earn, you also have the freedom to use your rewards whenever you want at any airline or hotel, because there are no blackout dates and your miles do not expire. There is also no limit on the number of miles you can earn and no foreign transaction fee, allowing you to use your card worldwide. And if you spend $ 3,000 in the first three months of membership card, you can earn a time bonus of 40,000 miles -. That equates to $ 400 in travel
Runner Up Rewards Best trip: Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards credit card another great option for those who like to travel because it offers because it allows you to earn 1.25 miles per $ 1 spent on all purchases. And, if you are not planning to travel soon, do not worry because unlimited miles you earn never expire and have no blackout dates - giving you the freedom to make the trip at your convenience. To top it off, the rewards credit card Entrepreneur Program provides an introduction period of 0% APR on purchases (after which you will receive the standard APR purchase) and, similar to Quicksilver card, there is also no charge annual.
Want more Capital One credit card options? Read our Capital One card reviews to find the best card for your needs.
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