‘Credit Cards’ News

Fraudsters see credit card fraud as victimless

Posted 2008-02-14

According to research from card protection firm CPP, credit card fraud is so high because it is seen as a victimless crime. Criminals believe that the only losers in credit card fraud are the credit providers. Danny Harrison of CPP said: “What happened in credit card fraud is moving more and more in to becoming what’s viewed as a victimless crime because the fraudster sees that it is the bank that pays and not the individual. In the majority of cases that’s true.” Mr Harrison warns consumers to be careful with their cards and immediately report if a card goes missing. ...

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Valentine couples heading abroad should be wary of credit card costs

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Posted 2008-01-28

Couples spending Valentine’s Day abroad should be aware of hidden costs for card usage overseas. Nationwide said that consumers lost more than £27 million in hidden charges last February.The building society advises that credit card users should avoid providers that charge foreign usage fees and, if cheaper, use a debit card where ever possible. Jeremy Wood, divisional director at Nationwide, said: “Couples who are planning to go abroad for a romantic getaway this Valentine’s Day should be aware of the hidden charges that most card providers impose, which are both costly and unnecessary.” Meanwhile, consumers are being advised to treat Dynamic Currency Conversion - where the cardholder is given the option to pay in sterling or local currency - with caution, as any conversion rate can be used by the retailer. ...

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