Saga: Young people more prone to credit card fraud

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Saga: Young people more prone to credit card fraud

Wed 4th Jun 2008

New research from Saga has revealed that the younger generation have a careless attitude towards credit card fraud.

People under the age of 50 and men are more likely to own multiple credit cards, making abnormal activity hard to spot, Saga stated.

Furthermore, the survey showed these demographics often carry all their cards with them at one time.

Andrew Goodsell, the chief executive of Saga Group, is worried by the trend and called for consumers to be more cautious with their credit cards.

"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," he said.

Nearly half of 15 to 17-year-olds are thinking of applying for credit when they are old enough, recent research by Axa revealed.

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