How the Coles Shield protects you against fraud

Coles Financial Services 17th May 2016 in Credit cards

Losing your credit card is not only a real pain, it can cost you a lot. So it pays to know how secure your credit card is, just in case.

Coles Credit Cards are covered by the Coles Shield. It’s made of three layers: Technology, Action, and Reliability. Each layer adds strength and extra protection against theft and fraud. Here's how they work:

Coles Shield

Your Coles Credit Card is covered by the patented Falcon™ fraud management system. We contract FICO, a New York Stock Exchange-listed security technology giant, to apply their cutting edge data management systems to help protect your credit card from online and other forms of theft.

This system monitors your transactions and detects any discrepancies that may highlight fraud.

A further protection is the in-built security chip in all our credit cards. This acts as a backup device ensuring your card is easier to find should it be lost or stolen. With the security chip in place, it's much harder for fraudsters to rob your personal details and use them without both your, and our, knowledge.

Should your security be breached, Coles Credit Cards offers a 100% money back guarantee on any transactions that have been made without your permission. All you need to do is notify us promptly of the theft, loss or misuse of your account that you didn’t contribute to the loss; and adhered to the Conditions of Use (COU). To activate these safeguards, ensure you alert Coles Credit Cards immediately upon losing your card or noticing any fraudulent transactions.

These protections also apply to Coles Credit Cards' mobile phone credit app, known as the Mobile Wallet. This app allows cardholders to make payments via their smart phone and manage their accounts with real time updates and records.

Added protection

These services come standard to all Coles Credit Card cardholders. But fraud is not the only risk we might face. Losing a job, breaking a new appliance without warranty or even buying something at the normal price that goes on sale the next day. These added risks can be reduced by our Account Cover Plus insurance option at an additional 1% of the closing balance of your credit card (capped at $50 per month).

If you buy Account Cover Plus, many of life's surprises (some life changing, some just annoying) can be avoided, buying you some peace of mind.

At any time, cardholders concerned about the security of their card or who suspect odd activity, can contact us for help. Simply call our dedicated Fraud Solutions team on 1300 306 397 or, for platinum card holders, 1300 552 710.

If you lose your card, call 1800 005 809 immediately. Our Fraud Solutions team are available 24/7, 365 days a year. If you are overseas call +61 3 9420 4818 or call MasterCard Global Service on +1 636 722 7111.

As you carry your Coles Credit Card around with you everywhere you go, it's nice to know that you are supported by some of the most precise and technologically advanced security possible.

Tags: Coles MasterCard Coles Shield