Holiday card fraud ‘could lead to debt problems’

Credit card fraud, which could leave those affected with high credit card debt and in need of a debt solution, is the biggest financial headache facing holidaymakers.

Research from First Choice has shown that the average cost for each credit card fraud victim on holiday is £235, but 20 per cent lose £500 and eight per cent face debts of £750 as a result of the crime.

The company also warned holidaymakers that in a number of cases, credit card theft has led to full identity fraud, something that can destroy credit history and leave consumers in dire need of debt management help.

Some 27 per cent of identity fraud on holiday is a result of stolen credit cards, First Choice has said, with 700,000 travellers affected this way annually.

“These figures are shocking – but prove just how vulnerable we are when we have cash and credit cards on holiday,” said Richard Turner, head of foreign exchange for First Choice.

Research earlier this week from MoneyExpert revealed that British consumers are charged a total of some £244 million for cash withdrawals while on holidays overseas.

track

Tell others:

shortlink