Ok readers… Plain and simple I want to champion consumer interests through our site:
http://www.id-theftprotect.com/ ….. protect your privacy, tell you about how easy it is to protect your identity, save money and more….
For those of you who read this blog you will certainly find this an interesting read, especially as it saves YOU money!!!
This week I’d like to tell you a little more about credit card and identity theft protection. How you can save money, a case story (what happened to me) and the consumer laws that protect your rights – they exist in most countries but for ease of reference I’ve stuck with just the UK and the US.
Did You Know?
1.You do NOT need CREDIT CARD PROTECTION
2.You do NOT need IDENTITY THEFT PROTECTION
Under the Consumer Credit Act 1974 (UK) (in the US this is the Electronic Funds Transfer Act) and Banking Code (UK) your credit card is protected if you incurr a fraud or loss of more than £100 ($200) – in the US this is $50. Worth remembering, most Credit Card companies (in the UK and US) will refund you if it is less though.
My Story – Credit Card Fraud
Two years ago a fraud was committed on my credit card. It was used for gambling. In excess of £3000 ($6000) was fraudulently spent on my card in two days. The Credit Card Company contacted me to alert me of these unusual transactions on my card – the card was stopped immediately. They then sent me a form to fill in to confirm the fraudulent transactions. Within 5 days my Credit Card was refunded the £3000 ($6000)… and best of all it did not cost me anything!
What about Identity Theft Insurance?
The same applies to Identity Theft Insurance. You do not need it. If you want your credit report it will only cost you £2.00 ($4) – yes that’s right £2.00 ($4)!! Not anymore… A number of credit reporting agencies offer credit monitoring… this allows you to be alerted when changes are made to your credit file i.e. when an application is made for a loan, credit card etc. This is useful but not necessary. You may want to try one of a number of FREE trials on offer … most run for 30 days, so you might be persuaded to part with some cash for this service. It’s entirely upto you.
Alternatively I suggest you join http://www.id-theftprotect.co.uk/ which cost £5 ($10) for life memberhip… we provide you everything and tell you where to go… best of all you will make a considerable yearly saving if you join us today!! No catches. All I wish is to provide you all with the knowledge and be proactive so as to enjoy your life and not to worry. Nothing more – nothing less.
Well that’s that for this week. Next week I will be talking about something new….. 😉
Julian, Mr IDTP