Travel-only credit cards 'can isolate fraud risks'

Thursday 08 July 2010

Article by Mozo

Australian travelers and tourists should keep a separate debit or credit card for travel expenses in order to isolate fraudulent activity, it has been suggested.

Lifehacker.com observed that hotel security breaches make up an alarmingly high proportion of "credit card data heists" each year, with 38 per cent of cases traced back to hotels.

It therefore urged consumers to compare credit cards and opt for a separate card for travel and hotel spending that would enable them to quickly identify any excessive charges.

"Barring a separate card for travel, be extra diligent about checking your statements after you travel to ensure no mystery charges appear," added Lifehacker.com.

"Many times credit card data is sold and sits idle for a period of time before being used so stay vigilant about combing through your bills."

The website noted that because the hotel industry was hit particularly hard by the economic downturn, many chains have neglected to invest in improving their security technology.

Meanwhile, the federal government this week issued a Green Paper aimed at reforming the regulation of various consumer credit products like credit cards as part of its new National Consumer Credit Code.

This article is brought to you by Mozo – Helping you compare credit cardsADNFCR-1761-ID-19880912-ADNFCR

Find great rewards credit card deals

Which type of rewards credit card would you like to compare?

Back to top