Credit Card Blog

I’m not entirely sure what to make of this, but a life assistance company (CPP) has carried out some research which suggests that up to as many as 20% of 8 to 16 year olds are using their parents credit cards to make purchases online without their parents (the cardholders!), knowing about it.

Apparently £191 million is being spent by children on their parent’s credit cards - with 2 percent of the people surveyed thinking that their children could have made purchases without their permission. 

This is a huge amount of money, but also exposes another potential problem. Children making purchases over the internet and using credit cards may not be as security conscious as many others, and may not be using reputable sites. This heightens the risk of card identity fraud as just one example.

This entry was posted on Tuesday, November 18th, 2008 at 4:49 am and is filed under Uncategorized.
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