What's in your wallet may not be the most secure, antifraud credit card available.

A new study of credit cards from 25 of the largest issuers found that many still fall short of protecting users from fraud.

The report, released by Javelin Strategy & Research, a Pleasanton, Calif.-based financial services research firm, found that while almost all card issuers do well in helping their customers after fraud or theft occurs, many need to upgrade their identity fraud detection tools.

Among the key deficiencies:

* 56% of the 25 card issuers surveyed continue to require full Social Security numbers to help identify their customers, whether by phone, online or by mail. "This is a risky practice that unnecessarily increases the customer's exposure to identity fraud," the report states.

* Consumers are not allowed to set transaction limits or block certain types of transactions using their credit cards, such as restricting card use to purchases only made with U.S. vendors, according to the study. In fact, only 24% of the surveyed card issuers allow consumers to set so-called user-defined limits and/or prohibitions (UDLAP) on their accounts to help prevent unauthorized use, the study concluded.

* While more card issuers now offer consumers e-mail or telephone "transaction alerts" to advise them of account activity, the number of participating card companies is still small -- about 8%.

Not all of the news is bad, however.

Customers do appear to be safer logging into their accounts online than they have been in the past, because of the widespread use of multifactor login processes, which require a username, password, identifying information such as photograph placed by the user and a correct answer for a challenge question, according to the study. More than 80% of the surveyed card issuers are now using authentication processes with a multifactor approach.

The Javelin report rated the card issuers using three criteria: prevention, detection and resolution. The top safety scorecard honor went to Bank of America's Visa Platinum card, which received 69 out of a possible 80 points, earning high marks for prevention techniques. The American Express Blue card finished second with 66 points, winning high ratings for detection protections for cardholders.

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