Quick Quote
One simple enquiry form gives you fast access to quotes and rate comparisons from some of Australia's leading debt consolidation specialists.
All quotes are provided free and without obligation by a specialist from our national broker referral panel. See our privacy statement for more details.
Knowledgebase
Option:
A financial derivative that gives the buyer the right, but not the obligation, to buy or sell an asset at a specified price on or before a specified date.
Debt Consolidation Australia :: Articles

Credit Cards: Identity Theft and Credit Protection

How can I protect myself from identity theft and credit card fraud?

Credit Cards: Identity Theft and Credit Protection

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Credit card fraud and identity theft have become widespread not only on the Internet but offline as well. Learn how to avoid these risks and protect your identity as well as your finances or credit line.

According to the US Federal Trade Commission, there are approximately nine million Americans that experience identity theft every year.

Identity theft happens when an unauthorized person takes control of your personal information, including your social security number and your credit card details, and uses it for his or her own interests.

Many companies are quick to respond to these instances. They now offer services and products that can monitor the use of your card, protect your identity, and reimburse the lost funds.

Credit Card Fraud vs. Identity Theft

Identity theft is not the same as credit card fraud although they are often connected to each other.

Identity theft is what happens when a criminal takes your identity and performs transactions with your card.

Usually, there is financial motivation with the guise, such as purchasing items online using your name.

Most thieves today can change your credit information, make new accounts, and even use your ID to commit crimes.

On the other hand, credit fraud starts when someone has stolen your card.

Once they have your credit card number, they can then use it to purchase online or even in person.

They typically resell the goods in order for them to obtain cash. Oftentimes, credit fraud leads to identity theft.

Do You Need Identity Theft Protection?

Everyone with a credit card needs protection against identity theft.

While there are tools that can be bought to help keep you safe from this criminal act, there are measures that you can do that don't cost money.

Practice them first before you resort to services with fees.

Here are some of the things that you can do to help safeguard your card and your identity:

  • Protect your information when performing online purchases.

Many people are now buying stuff online.

While this is convenient, there are risks that may be encountered if you are not careful.

As a matter of fact, it is easier for identity thieves to get your information online.

Make sure that you don't store your passwords and log in information, especially when you use a public computer.

Keep away from phishing tricks.

Phishing scams mimic online shopping websites and banks so that they look legitimate and can get your credit card account.

  • Check your credit card bills.

If there are portions in your statement that seem suspicious to you or if you see purchases that you didn't do, contact your creditor immediately.

  • Shred financial documents.

This is pretty easy, but most people tend to throw away their documents without even shredding them.

Desperate thieves will do anything to get your bank and personal information to use it for their crimes.

  • Beware of multiple swipes.

Card readers sometimes don't read the magnetic stripe in your card so merchants swipe again.

However, there are instances when the second swipe will be used to duplicate the information from your card.

Always ask for a reason why your card has been swiped more than once.

Credit cards usually come with identity theft protection. They can monitor your activities and may report to you in case there are detected changes.

While these are useful, it always pays to be a vigilant cardholder by performing the DIY methods mentioned above. 

Published: Sunday, 1st Aug 2021
Author: 260

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.


Debt Consolidation Articles

Common Mistakes to Avoid When Consolidating Debts
Common Mistakes to Avoid When Consolidating Debts
Welcome to our guide on avoiding common mistakes when consolidating debts. We're glad you're here, as taking the time to educate yourself is a crucial step towards financial well-being. - read more
How to Manage Personal Debt: An Australian Debt Management Guide
How to Manage Personal Debt: An Australian Debt Management Guide
Managing personal debt starts with understanding what you owe, how much it costs, and which steps can help you regain control. This Australian debt management guide explains budgeting, repayment strategies, consolidation options, professional support and practical habits that can reduce financial stress over time. - read more
Debt Consolidation Myths: Debt Consolidation, Debt Reduction and What They Really Mean
Debt Consolidation Myths: Debt Consolidation, Debt Reduction and What They Really Mean
Debt consolidation can simplify multiple repayments, but it is often misunderstood. This guide explains the difference between debt consolidation, debt reduction and debt elimination, and addresses common myths about interest rates, credit scores, suitability, negotiation and alternatives in the Australian context. - read more
The Ultimate Guide to Achieving Financial Freedom Through Debt Restructuring
The Ultimate Guide to Achieving Financial Freedom Through Debt Restructuring
Financial stability is a common aspiration, yet many Australians find themselves weighed down by the burden of debt. Whether it’s due to loans, credit cards, or unexpected financial emergencies, the struggle to stay afloat is a reality for countless individuals striving to achieve their dreams of a secure, debt-free future. - read more
The Importance of Emergency Funds in Your Monthly Budget
The Importance of Emergency Funds in Your Monthly Budget
When it comes to managing your finances, planning for the unexpected is a crucial part of staying on top of your budget. An emergency fund serves as your financial safety net, poised to offer support when unforeseen expenses arise. These funds are specifically set aside to cover unexpected costs, like medical emergencies, car repairs, or urgent home maintenance issues. - read more
Finance News

Why Hardship Complaints Matter When Debt Feels Unmanageable
Why Hardship Complaints Matter When Debt Feels Unmanageable
01 Sep 2026: Paige Estritori
Fresh financial complaints reporting has again highlighted a difficult reality for many Australian households: when repayments start to fall behind, the problem is rarely limited to one bill. Mortgage stress, credit card balances, personal loans, car finance, buy now pay later commitments and utility arrears can all collide at once, leaving borrowers unsure which creditor to call first or what support they are entitled to request. - read more
Why Buy Now Pay Later Can Become a Debt Stress Signal
Why Buy Now Pay Later Can Become a Debt Stress Signal
25 Aug 2026: Paige Estritori
Recent consumer finance reporting has put buy now pay later back in the spotlight, with more Australians appearing to use short-term credit to manage everyday costs such as groceries, utilities, fuel and household essentials. On the surface, splitting a purchase into smaller instalments can feel manageable. The concern is what happens when several small commitments land at the same time as rent, mortgage payments, credit card minimums, car finance and personal loan repayments. - read more
What the Latest RBA Hold Means for Australians Juggling Debt
What the Latest RBA Hold Means for Australians Juggling Debt
18 Aug 2026: Paige Estritori
The Reserve Bank of Australia’s latest decision to leave the cash rate unchanged gives households a moment to breathe, but it does not remove the pressure many borrowers are already feeling. For Australians carrying credit card balances, personal loans, car finance or buy now pay later debt, a steady cash rate can feel like welcome news after a long period of higher borrowing costs. - read more
Why Personal Loan Demand Matters When Debt Feels Harder to Manage
Why Personal Loan Demand Matters When Debt Feels Harder to Manage
11 Aug 2026: Paige Estritori
The latest Australian lending indicators are a reminder that personal loans remain an important part of household finance, particularly for people trying to smooth out cash flow, cover large costs or bring several debts under one repayment. For Australians already juggling credit cards, car finance, buy now pay later balances or other unsecured debts, the trend is worth watching closely. - read more
Why Credit Card Debt Pressure Is Back in Focus for Australians
Why Credit Card Debt Pressure Is Back in Focus for Australians
31 Jul 2026: Paige Estritori
The latest Australian credit card lending updates have put household debt back under the spotlight, with many borrowers still carrying balances that attract high interest. While spending patterns can shift from month to month, the broader message is clear: when everyday costs remain elevated, credit cards can quickly move from convenience to financial pressure. - read more