Are You More Susceptible to Credit Card Fraud?

By: Reno Charlton

Of course, anyone that owns a credit card is at risk of falling victim to credit card fraud, as this type of activity is rife these days with fraudsters using increasingly sophisticated methods in order to commit fraudulent crimes relating to credit cards and even debit cards/bank accounts.

However, according to a recent report there are some groups that are more at risk of falling victim to credit card fraud than others, and these groups are being urged to exercise increased caution when it comes to their credit cards.

Young people and men more susceptible to credit card fraud

The data comes from a study that was carried out by Saga, and the results of the study showed that both younger people and men were at increased risk of falling victim to credit card fraud.



A number of reasons were given for these increased risks, with one of the major risk factors being that people within these two groups are more likely to have multiple credit cards and carry all of their cards around with them at the same time.

There was particular emphasis on the fact that younger consumers could be highly susceptible to credit card fraud, with an official from Saga stating: "The younger generation are obviously more gung-ho and do not think that this kind of thing will happen to them and also if something does ensue, they may be relying on financial institutions to reimburse them."

Stay cautious

However, with a separate study from AXA showing that around fifty percent of youngsters aged between fifteen and seventeen were considering when they turn eighteen it is vital for younger consumers to consider the importance of being extremely cautious with their credit cards.

One mistake to avoid is carrying around multiple credit cards, as this can increase the chances of becoming a victim of fraud. Another important factor is to avoid using the same PIN for all cards, as this can also increase risks.

All credit card holders should be extremely careful with regards to using their cards on websites that are not known to them, and should be very cautious about who is able to access their , whether it be through obtaining their card or through hearing them give out details on the phone or to another person.

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