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Holidaymakers "complacent" about cards

26/08/2008

People who use credit and debit cards abroad are risking debt not only from overspending but from fraud as well, an expert has said.

Kerry D`Souza, card fraud expert at CPP, said people can be "a bit complacent" regarding their cards when on holiday and debt problems may arise once they return home.

"You`re on holiday, you`re relaxed and you`re not necessarily thinking about what`s going out of your bank account – you might not want to think about it," she said.

While Ms D`Souza`s comments were warnings about credit card theft and fraud, her words may also be applied to those facing debt problems from not paying attention to spending.

Credit cards – essentially a form of temporary personal loan – can result in high levels of debt if not addressed quickly.

People facing such debt may want to consider a consolidation loan or (if they owe their unsecured creditors more than they can afford to repay) an Individual Voluntary Arrangement (IVA).

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Related:

• IVA
• Debt Management
• Debt Consolidation
• Debt Advice

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