Capital One Pilots Service that Monitors Potentially Unwanted Charges

Capital One Financial (COF) in McLean, Va., is piloting a new service aimed at protecting its customers from possible fraud.

Second Look is a fraud detection service that helps a customer flag possible duplicate charges or auto-renewing subscriptions processed against them.

Data from Capital One shows that two out of three customers usually overlook potentially duplicative charges.

"Capital One Second Look is just another way we're looking out for our customers' best interest and giving our card holders a heads up, so they can stay on top of their spending," Amy Lenander, vice president of rewards programs at Capital One, said in a press release.

The service is currently offered to some customers and the $290 billion-asset Capital One said it will soon be available to all credit card users.

Second Look sends a customer an alert when there is an unexpected charge on a monthly bill or when a membership is automatically charged annually after a free introductory trial period. After receiving a Second Look alert, more than 25% of customers have contacted their provider to ask about the charge, Capital One said.

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