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Prepaid cards 'reduce risk from fraud'

31 December 2010 12:51:50

Prepaid cards help reduce exposure to fraud. image
Prepaid cards help reduce exposure to fraud.
People who use a prepaid credit card tend to suffer less from the effects of fraud than those who use a credit card, it has been claimed.

Sarah Blaney, card fraud expert at protection provider CPP Group, suggested that consumers can restrict their exposure to fraud by obtaining a prepaid credit card.

"One benefit of having a prepaid card is that because it is pre-loaded with money, there is a finite amount of money [on it]," she pointed out.

"So if you've only got £200 on it, then if it's ever stolen and used, that's the max it can lose."

In contrast, she explained, a shopper with a regular credit card and a £5,000 limit has a "much" higher exposure to risk.

Ms Blaney also provided some general guidance on reducing the risk of fraud.

She urged consumers not to take all of their debit and credit cards with them when they go shopping and reminded people not to hang their handbag on the back of their chair in restaurants.

The expert also emphasised the importance of only using legitimate websites when shopping online.

These can be identified by the padlock symbol, which should be located in the bottom right hand corner of the browser.ADNFCR-2196-ID-800319072-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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