Use our UK Finance guide and learn by experience. We outline pitfalls so that you don't have to learn the hard way, as many of us often do.
Credit Cards
Credit Card Transfers - Be Careful Who You Trust
The majority of bank account holders nowadays have a line of credit linked to their account. The convenience of having a credit card has led countless thousands to use their credit cards for purchases rather than cash. However this influx of credit card users has led to a proportionate growth in credit card fraud. Fraudsters have ingenious ways to collect your credit card information and before you know it, your account is maxed out.
Be mindful of where and when you use your credit card. Be wary of who you provide your credit card information too. Trust your instincts. If a transaction doesn't 'feel' right, then don't go through with it. Find an alternative supplier for the product you're looking for, or explore an alternative means of payment.
If you're dealing with a company for the first time, try to get a little background information on the company. Make sure that they have no history of fraud with clients credit information. Have a look how long the company has been in business. Are they a 'fly-by-night' company? Try to deal only with reputable companies that you can trust.
With the potential danger of internet transactions, you should only deal with companies that are well established and have properly setup secure internet transactions. Is the page that you're entering your information into professional looking? Are their broken images? If the page doesn't look professional and well put together, chances are it's a company that is not reputable and thereby not trustworthy.
If you make a lot of online purchases then you might want to look into setting up an account that will handle your online purchases and credit information for you. Companies like Ebay and Paypal are examples of such establishments. These companies have proven themselves to be trustworthy and by working with them you wont have to worry about credit fraud.
However the principle of credit card safety remains regardless of whether you're purchasing something in a store, or on a website. If you're haphazard about who you give your credit card details to, you could more than likely find yourself stuck with having to organize a stolen credit card and lost funds.
Prevention is better than cure so always be wary of when and where you hand out your credit information
