‘Young people more susceptible’ to credit card fraud

The younger generation have a careless attitude towards credit card fraud, Saga has revealed.

According to the group, people under the age of 50 and men are more likely to own multiple credit cards and carry all of their plastic with them at one time.

Saga stated that this represents a blase attitude, with multiple card ownership making unusual card activity hard to spot.

Chief executive of Saga Group Andrew Goodsell described the trend as “worrying”.

“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.

Mr Goodsell urged consumers to be “cautious” with their credit cards.

Recently Axa revealed that despite many teenagers failing to budget their finances well, nearly half of 15 to 17-year-olds are thinking of applying for a credit card when they are able to do so.

© Adfero Ltd

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