"But phishing changes that, because the frauds have information that even a good customer doesn't normally provide, and a crook armed with more information about the legitimate cardholder makes our job tougher".
Three tests must be met: That the cardholder made a good-faith attempt to resolve the problem with the merchant; that the amount involved is more than $50 and that the transaction took place in the state where the cardholder lives, or within 100 miles of the home address.
The size of those rewards will depend on several factors, including the purchases a cardholder makes -- the more they swipe for, the more they can earn in rewards -- and whether they incur one of the 20 or so fees the card -- or the checking account it's tied to -- charge.
New credit-card legislation requiring that monthly statements make clear the long-term cost to cardholders of making only minimum payments is another.
The industry has asserted that the legislation may backfire, forcing banks to issue fewer credit cards at greater cost to the current cardholders and making credit harder to get at a time when many Americans need it.
Fraud experts say that hackers often steal personal data and make multiple small charges to validate a card, probe its vulnerability and test the vigilance of a cardholder before making bigger charges.
MBNA says: 'We do get a lot of people transferring from store cards and this is where you often get the biggest saving.' Other cardholders will make much more modest savings.
A debit card payment allows cardholders to make payment by debiting their bank accounts electronically.
