Younger cardholders would find themselves victims of credit card fraud

In a recent report officials from Saga have claimed that younger cardholders in the UK could find themselves more easily becoming victims of credit card fraud.

Credit card fraud levels have been soaring over recent years, and industry officials have been warning consumers to take more care over their credit card accounts and information.

However, the report suggests that the way that younger people use their credit cards could result in them being at increased risk of falling victim to this sort of financial crime. The research showed that many consumers aged over fifty tend to have multiple credit cards, and they tend to take all of their cards out with them.

One industry official from Saga said that younger people need to take more care in order to avoid such risks. He said: “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.”

Another recent report showed that around 50% of younger consumers aged between fifteen and seventeen years were thinking of taking out a credit card when they reach the age of eighteen.