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Do Britons Care About Credit Card Security?

Posted on 03. Mar, 2010 by emilythomas in Moneytips

A recent analysis conducted by Adeptra, a web security specialist, suggests they do not — at least when it comes to regularly checking their statements. According to UK.CreditCards.com, British consumers check their statements less frequently than Americans do. The study revealed the following:

• 11% of US bank and credit card customers check their accounts daily, whilst 53% carry out weekly reviews
• 67% of UK consumers only looked at their statements each month and 10% never checked them at all

I was surprised to find out that the average Brit pays so little attention to credit accounts. As for myself, I check my accounts very regularly depending on how often I use them. Since I use my current account and debit card for almost everything, I access my account online every day, sometimes more than once a day.

Next, I have a primary credit card that I use to make larger purchases (appliances and such) as well as Internet purchases. I check this credit card account probably every week or so. For my remaining credit accounts that I use less often, I check my statements every month. I normally have only 1-3 transactions if I use my other cards so it’s easy to tell which ones I didn’t make.

Reviewing your accounts frequently not only helps you spot early signs of fraud, it also helps you catch duplicate charges or transaction errors. Make sure you keep your receipts so you have proof to show your bank or credit card company and any mistakes can be resolved in your favor.

If you don’t have online account access, then ask your bank or credit card company to provide this service. You can also review your account activity by calling the number on your credit or debit card. So don’t wait to get your monthly statement and stay on top of your accounts!

Tags: Banking, Banking Tips, card security, credit card fraud, credit card news, credit card tips, Credit Cards