Beware of Credit Card Identity Theft

19 November 2007

Online identity theft is a growing concern for everyone who uses the internet and the new social networking pages at web sites like Myspace is a cause of concern to both banks and consumers.

Fraudsters can get started on applying online for a credit card in your name with access to your name, date of birth, and in many cases other important details like employment, school history with address and telephone numbers easily found if you don't have a private number.

In some cases people even put their place of employment and complete family history including their mothers maiden name. This is just asking for trouble.

They say that 'prevention is greater than cure,' and keeping your personal details personal, can save you some serious financial grief in the long run.

While there is no doubt that these online networking web sites are a fun to many, the banks and other financial institutions won't be tolerant forever if they find that your personal details can easily be accessed online.

Banks are very tolerant and understanding in the majority of cases when customers are affected by fraud on their credit cards.

You generally have to suffer the inconvenience of going without your plastic for a few days as a new card needs to be issued but with more and more frauds being committed online through neglect, the banks may lose patience sooner rather than later if people continue to advertise their personal details online.

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