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AmEx Offering ID Theft Help

American Express joined the list of companies offering its customers different levels and types of identity theft protection.

A basic service free to cardholders includes access to representatives 24 hours a day who can help navigate the recovery process and offer tips on how to protect against identity theft in the future, assistance in evaluating possible theft, and a comprehensive package of materials such as sample letters that cardholders can use to re-establish their credit.

For a fee of $9.99 per month, card members can enroll in a credit report monitoring service that alerts them when activity occurs on their accounts. The service provides quarterly credit updates, identity theft expense coverage up to $5,000 for recovery efforts, access to a special website that has resources on credit and identity theft resolution and toll-free telephone assistance from credit specialists. For $5.95 per month, card members can enroll in a protection program that has coverage of up to $15,000 for fees such as attorney's fees and court costs ($5,000), lost wages ($2,000), restitution for funds withdrawals ($2,500) and miscellaneous other expenses

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 9, 11/04

First published on 11/01/2004

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