Credit card fraud 'most damaging' at Christmas - Credit cards - News - Moneyfacts


Credit card fraud 'most damaging' at Christmas

Credit card fraud 'most damaging' at Christmas

Category: Credit cards

Updated: 24/12/2008
First Published: 19/12/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumers have been advised to be particularly aware of the danger of credit card fraud in the run-up to Christmas.

According to Danny Harrison, card fraud expert at life assistance company the CPP Group, such crimes become more common at this time of year, but also have the greatest impact.

"It takes time if your bank account has been emptied to prove that you are innocent and get the money back into your account, by which time it might be too late to do the Christmas shopping," he said.

Mr Harrison noted that card-not-present fraud has been on the increase in recent years, with fraudsters being able to record information in seconds.

He explained that it can occur in bars and restaurants, when cards are taken away for payment or left after a tab has been set up.

The CPP Group recently found that three-quarters of people have had their debit and credit cards taken out of their sight in such establishments.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Top credit cards for Christmas spending

‘Tis (just about) the season to be jolly, but before all that festive fun begins, chances are you’ve got a bit more shopping to do. But, if you’re turning to credit to fund things, you’ll want to use cards that offer 0% interest deals on purchases.

Spooky reality of high balance transfer fees

Credit card debt is scary at any time of year. While most might assume that opting for the longest deal on offer would save them the most, our data shows some of the longest deals can actually work out to be the most expensive.

Reward credit cards that become ‘pointless’

If you regularly use cards to pay at the till, you may have considered opening a reward credit card to earn points every time you spend. However, not all of these cards are as rewarding as they may seem…