Anyloan Australia :: Articles

Credit Cards: Identity Theft and Credit Protection

Credit Cards: Identity Theft and Credit Protection

Credit card fraud and identity theft have become widespread not only on the Internet but offline as well.
Learn how to avoid these risks and protect your identity as well as your finances or credit line.

According to the US Federal Trade Commission, there are approximately nine million Americans that experience identity theft every year.

Identity theft happens when an unauthorized person takes control of your personal information, including your social security number and your credit card details, and uses it for his or her own interests.

Many companies are quick to respond to these instances. They now offer services and products that can monitor the use of your card, protect your identity, and reimburse the lost funds.

Credit Card Fraud vs. Identity Theft

Debt Stressed?
If you're struggling to pay your debts as well as covering living expenses, we are here to help. Through our national panel of Debt Management specialists, we can help customers with $10k or more in debt by consolidating your existing loans, stopping Debt collectors from contacting you and re-negotiating repayments on your terms!

Identity theft is not the same as credit card fraud although they are often connected to each other.

Identity theft is what happens when a criminal takes your identity and performs transactions with your card.

Usually, there is financial motivation with the guise, such as purchasing items online using your name.

Most thieves today can change your credit information, make new accounts, and even use your ID to commit crimes.

On the other hand, credit fraud starts when someone has stolen your card.

Once they have your credit card number, they can then use it to purchase online or even in person.

They typically resell the goods in order for them to obtain cash. Oftentimes, credit fraud leads to identity theft.

Do You Need Identity Theft Protection?

Everyone with a credit card needs protection against identity theft.

While there are tools that can be bought to help keep you safe from this criminal act, there are measures that you can do that don't cost money.

Practice them first before you resort to services with fees.

Here are some of the things that you can do to help safeguard your card and your identity:

  • Protect your information when performing online purchases.

Many people are now buying stuff online.

While this is convenient, there are risks that may be encountered if you are not careful.

As a matter of fact, it is easier for identity thieves to get your information online.

Make sure that you don't store your passwords and log in information, especially when you use a public computer.

Keep away from phishing tricks.

Phishing scams mimic online shopping websites and banks so that they look legitimate and can get your credit card account.

  • Check your credit card bills.

If there are portions in your statement that seem suspicious to you or if you see purchases that you didn't do, contact your creditor immediately.

  • Shred financial documents.

This is pretty easy, but most people tend to throw away their documents without even shredding them.

Desperate thieves will do anything to get your bank and personal information to use it for their crimes.

  • Beware of multiple swipes.

Card readers sometimes don't read the magnetic stripe in your card so merchants swipe again.

However, there are instances when the second swipe will be used to duplicate the information from your card.

Always ask for a reason why your card has been swiped more than once.

Credit cards usually come with identity theft protection. They can monitor your activities and may report to you in case there are detected changes.

While these are useful, it always pays to be a vigilant cardholder by performing the DIY methods mentioned above. 

Car Loans - Quick & Easy
If you are in the market for a new or used car, then we'd like to help you arrange the money. Our car loan & leasing service is backed by a national panel of car loan specialists who will establish your eligibility, find lender/s offering the best deals for your situation - and help you through the approval and settlement process. No charge to you - and no obligation to proceed with any recommendations offered.
Insuring your most valuable asset
While many people would consider their home or their car to be their most valuable asset, it's your ability to earn an income that is most important in shaping your financial future. Statistically, two thirds of working Australians will suffer an injury or illness that will sideline them for 90 days or more. The majority of these people would not be able to pay their mortgage or meet car finance and other loan commitments without adequate income insurance.


Finance Articles
A Chattel Mortgage for Business Finance - Six rules of evaluation and selection.
A Chattel Mortgage loan is a simple yet effective finance option designed for business plant and equipment purchases. Here are six rules to consider when arranging finance for your business that will ensure you retain full control over the loan process and save money in the process. - read more
Credit Cards: Identity Theft and Credit Protection
Credit card fraud and identity theft have become widespread not only on the Internet but offline as well. Learn how to avoid these risks and protect your identity as well as your finances or credit line. - read more
Why did my Credit Score drop - and how can I fix it?
Your Credit Rating (or Credit Score) plays a very important role in determining your eligibility to get a loan. Here we look at the reasons why your credit score may drop and some handy tips to avoid this problem. - read more
18 Hot Tips For Intending Borrowers
If you're thinking of borrowing money to buy a car, boat, debt consolidation, home repairs, medical bills or anything else for that matter, here are some red hot tips to make the process much, much easier. - read more
Managing Credit Card Debt
If your credit card debt is starting to get out of control - or you simply want to know how to avoid potential credit card pitfalls, you are not alone. Managing credit cards is a problem faced by many who are now drowning in an ocean of debt. Here are some simple strategies that may be of help. - read more
Double your Home Loan Deposit in half the time
Saving is never an easy thing to do and saving for a deposit on a home is twice as hard. However, with the right strategy in place, your savings can grow and grow, cutting the waiting time to your own home in half. - read more
Loan Finance: How to Shop Around Without Damaging Your Credit
If you are considering taking out a loan, you wouldn’t go out of your way to make it harder on yourself to get approved or to get a good interest rate, would you? Yet many loan applicants would enjoy a considerably better outcome on their loan application if they followed this important rule. - read more
Utilising A Chattel Mortgage for Business Finance
A Chattel Mortgage loan is a simple yet effective finance option designed for business plant and equipment purchases. Here are six rules to consider when arranging finance for your business that will ensure that you retain full control over the loan process and save money in the process. - read more
Credit Card Secret Guarantee
Most people use credit cards in some form or another but few truly appreciate one of the special features of credit cards that make using their credit card to insure their purchases. - read more
The Truth Behind Payday Loans
There’s a lot been said about payday loans. Many claim that the interest rates charged are outrageous. Others say that they are the only source of finance available for those with less than perfect credit score. There is a bit of truth in both claims but there is much more to payday loans than meets the eyes. - read more

Finance News

Personal Loans to help Australians in need: FSO
Oct 29 :: As Australia prepares to clean up following devastating fires and floods, Financial Services Online CEO, Andrew Clark, has announced a package of... read more

Small business loans to help Aussie businesses through tough times
Nov 27 :: Financial Services Online has today announced a new credit facility for Australian business customers who are seeking loans for amounts of up to... read more

Police issue warning about bank scam
Nov 20 :: Melbourne police are warning people about a scam in which fraudsters pose as bankers and ask for money.They say they cold call customers... read more

ANZ nets solid profit despite wealth management
Oct 26 :: ANZ banking group has reported a solid full-year result with net profit attributable to shareholders up 6 per cent to nearly $5.7 billion - but... read more

Millions lack access to basic financial services
Jun 01 :: Nearly 3 million Australians do not have access to basic financial products such as a credit card, car insurance or even a bank account, according... read more

Reserve Bank leaves interest rates steady
Apr 04 :: The board of the Reserve Bank of Australia has left interest rates unchanged at 4.25 per cent at its monthly meeting today, as widely expected.The... read more

Big banks not too profitable: RBA
Feb 25 :: The governor of the Reserve Bank says the Australian banking sector is not too profitable.Appearing before the House of Representatives... read more

Commonwealth Bank changes ads following ASIC concern
Jan 16 :: The Commonwealth Bank of Australia has agreed to change some of its advertised loan comparison rates after concerns were raised by the Australian... read more

Inflation fall strengthens case for rate cuts
Dec 06 :: A leading unofficial measure of inflation eased last month due to falling food and fuel prices, strengthening the case for interest rate cuts next... read more

Reserve Bank cuts domestic growth outlook
Nov 07 :: The Reserve Bank of Australia (RBA) has cut its forecast for economic growth and inflation in its latest quarterly report card.Europe's... read more


Need Help Finding a Loan?
Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check!
Loan Amount:
Postcode:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Mortgage Document:
The physical contract agreement that a Mortgagee (lender) enters into with a Mortgagor (borrower) outlining the precice terms of a mortgage loan.


Quick Links: | Compare Loans | Bad Credit Loans | Finance For Self-employed | Low Rates | Free Loan Assessment