Credit card fraud increases

The flexibility and ease that credit cards provide have made them hugely popular amongst consumers in the UK, and many people now have one or more credit cards, which they use for making purchases on the High Street, by phone, and online. However, whilst these cards do offer the ultimate in freedom and flexibility they can also pose a danger if users are not vigilant.

Credit card users are being warned that they need to be more vigilant when using their credit cards and with their credit card information. This is because figures have shown that the level of credit card fraud has increased, with 6.4 percent of plastic cardholder falling victim to fraud in the past twelve months compared to 4.7 percent in the previous year.

The figures were released as part of the British Crime Survey, and the rising level of card fraud has made many people concerned about falling victim to this type of activity. In a survey 53 percent of cardholders said that they were concerned about becoming a victim of plastic card fraud.

With fraudsters now using a range of sophisticated methods to conduct this type of criminal activity, cardholders are being urged to be extra vigilant when using their credit and debit cards. It is also advisable for cardholders to check their statements carefully and also check copies of their credit reports in order to look out or any suspicious transactions.

One credit card holder stated: “I used to do a lot of shopping online with my credit card, and I’ve never been a victim of fraud. However, these days I often think twice about shopping in this way because the level of card crime in the UK really worries me. I think it is vital that shoppers are really careful when they use their cards.”

Tags: cards, credit card holder, Visa Inc., Credit Cards, flexibility, fraud, range, plastic

A great way to save money on your holidays

For most households in the UK money is tight due to the effects of the global credit crunch, higher living costs, soaring inflation, and rocketing bills. However, even when finances are looking a bit sorry for themselves many of us still want to try and find a way to get away from it all by booking a holiday, especially with things as stressful as they are in the current climate. Read more

Tags: description, holiday costs, person, official, flexibility, uk, travel

Annual travel cover ‘more popular’

More people are taking out annual travel insurance cover because of changing trends in holiday habits, it is claimed.

According to Halifax Travel Insurance spokesperson David Bruce, people are currently taking more short breaks rather than one long summer holiday, meaning that the flexibility provided by annual cover is becoming more popular.

Cheaper airlines are believed to be part of the reason, enabling frequent and affordable weekend breaks abroad, Mr Bruce said.

“More and more people are taking more than the traditional one summer holiday a year so it makes more sense to have annual cover,” he claimed.

However, Mr Bruce warned that should holidaymakers be required to make a claim in the event of a theft abroad, they must obtain a crime reference number or else “the claim cannot be validated”.

According to the Association of British Insurers, travel insurance policies should provide cover for consumers in the event of medical emergencies, loss or damage to personal possessions, loss or theft of money and expenses incurred due to a delay or cancelled departure.

Tags: flexibility, cover, crime, travel insurance policies, Association of British Insurers

Buy-to-let market set for growth

More and more people are choosing not to get a mortgage and are instead renting property.

According to Alliance & Leicester, the buy-to-let market is growing rapidly and the firm expects that it will have ballooned by 40 per cent within ten years.

The company has released its Changing UK Household Market report in which it states how the market will grow and what will be the factors affecting it.

Three main drivers for the market were identified, the first of which is a rise in the renting market, with more students and single people looking for places to live.

A change in attitude among the younger generations was also named as a key factor, with it now being more socially acceptable not to own a home.

Finally, Alliance & Leicester said that larger numbers of people are now using rented property to ensure they have flexibility.

“Demand for rented property has been growing steadily in recent years and returns on buy-to-let have increased,” said Stephen Leonard, director of mortgages at the firm.

“This growth is expected to continue – as the number of renters rises further and buy-to-let becomes even more attractive to both existing and potential landlords.”

Tags: change, Stephen Leonard, flexibility, london, uk, market, landlords, home