The Capital One data breach exposes a new dark side to credit-card rewards
But our eagerness to score potentially lucrative deals comes with one major, often-overlooked trade-off: It leaves you more vulnerable to cyber criminals.
Americans are a major target for hackers The popularity of credit-card rewards in the U.S. helps explain why Americans on average have more than two credit cards each, according to 2017 Experian data EXPN, -0.36% Most of the card information sold on the dark web was gleaned using malware computer viruses or credit-card skimmers that criminals installed at point-of-sale terminals. And although Americans only make up 20% of the worldwide credit-card market, their cards made up 64% of the total number of compromised cards sold during the time period Sixgill examined.
Rather than just doing the math to figure out whether their budget can handle the addition of another credit card, people should consider their own willingness to take on the hassle of actively monitoring multiple credit-card accounts in order to spot fraud.
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