Posted by Peter Brady on Mon 3rd July 2006 at 09:00 AM, Filed in Fraud
Did you know that fraud on UK credit and debit cards costs over £1 million every day? Frightening statisitc really.
So what can you do to mitigate a fraud in the UK?
Well, chip (the sophisticated little card chip) and pin (personal identification number) is helping matters.
According to the “Crime Support Financial”
“If your card is used or stolen you are fully protected by the UK Banking Code. The Code is a voluntary system that sets out standards for good banking practice, including limiting liability for cardholders that are victims of fraud. Under the Code, if someone else uses your card before you tell your card issuer it has been lost or stolen or that someone else knows your PIN, the most you will have to pay, in theory, is £50.
In practice the bank or building society will usually refund the full amount lost. But if the cardholder were negligent, for example, by keeping their PIN near their card, they would have to meet all the losses.”
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We just love getting these photos of credit cards appearing in weird places. Thanks to Mitch from NYC for this interesting picture. I wonder which credit card the lady carries under her toga!?
The much vaunted Mint Credit Card seems to be advertised just about everywhere at the moment. I certainly like the look of it from an aesthetic perspective but there is very little to distinguish it in terms of features which include:
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Actually you should give a XXXX about this card as it has some really nice features that differentiate it from the ususal run of the mill stuff that’s doing the rounds these days - and the card’s design is quite classy too.
I must admit that since I happened on the Nectar Points Card launch at Sainsbury’s head office in High Holburn London some years ago I have been disappointed with the rewards that the Nectar scheme has offered. You really do have to be going some in the spending department to get anywhere near some of the more extravagant points rewards. Having said that I think they may have come good with the Nectar Credit Card. 
Here’s why:
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The Lloyds TSB Platinum certainly won’t win any awards for aesthetic creativity. They have merely opted for the ubiquitous and unimaginative platinum grey design - very uninspiring to be honest. But the features and APR are quite attractive although having received two unsolicited phone calls and copious amounts of mail shot material on this product you kind of think that Lloyds are really going for the hard sell here.
Having said that, I have had an account with Lloyds for nearly twenty years and quite frankly the service has been superb. Anyway here are the features to take note of:
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