Consumers should monitor credit reports, says uSwitch

www.moneynews.co.uk > Credit cards > Consumers should monitor credit reports, says uSwitch

Consumers should monitor credit reports, says uSwitch

Thu 8th Oct 2009

Consumers can protect themselves from fraud by keeping an eye on their credit reports, uSwitch has advised.

Rumina Hassam, personal finance expert at the comparison site, made her comments following the release of fraud figures by Financial Fraud Action UK & The UK Cards Association, which indicated that identity card theft had increased 23 per cent year-on-year.

Ms Hassam pointed out that many people who check their credit reports find mistakes on them, which can damage their rating if they are not sorted out.

She added: "Although the recession has created more consumer interest in these reports, our research shows that 54 per cent of consumers have never looked at their credit report."

Research by uSwitch shows that there are 38 million dormant credit cards in the UK, which it claimed is a security risk since fraudsters can intercept them more easily than active cards.

Ms Hassam recently commented that the move by RBS to limit their credit cards to their own current account customers will restrict consumer choice.

Click here for more credit card news

Related News : Credit cards
	Brits spent less in the run-up to Christmas 2011
	Credit card spending fell in 2011
	Credit cards 'can be a useful budgeting tool'
	Credit card usage 'to rise this month'
	New measures to help Brits with finances
	Credit card spending 'less prolific in the last 12 months'
	AA Launches new reward credit card
	Borrowings 'still need to be repaid' during a gap year
	Clear information in credit agreements called for
	Brits 'focusing on zero per cent cards'