The number of fraudsters using someone else’s personal details to apply for credit cards rose by almost a third (31%) in 2018 compared to the previous year, figures from Experian reveal.
In addition to the rise in credit card fraud, Experian also revealed that a new incident of financial fraud was recorded every 15 seconds last year.
This is worrying news for consumers as it comes just before the summer holiday season when many will be using their credit cards to pay for holidays. While it is still advisable to pay for big-ticket purchases, such as holidays, using credit cards as they provide greater protection against fraud – regulations and legal protections mean card victims are entitled to claim the money back – it is still vital to minimise the risk of being the victim from credit card fraud.
Although there is no way of completely protecting yourself from credit card fraud, there are ways of minimising the risks. Simple ways to help keep your credit card safe include:
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