An American Express survey has shown that identity theft is more of a worry to people now than many physical attacks.
Over half the people surveyed by American Express worry that they will have their identity used by someone else, with the biggest increase being amongst the 18 to 24 year olds, with the concern up by 8 percent compared with last year. Costing over GBP1.3 billion each year identity theft is a very real crime and as our use of chip and pin cards, the internet and technology increases so do the chances of our personal data being taken.
In reality the risk is relatively low, growing lower still if simple precautions are taken. American Express advise internet users not to provide their details to any sites they do not trust, to shred their documents before disposing of them and to make sure their computers are password protected, and not with either birthday or mothers maiden name, which are by far the most common ones used.
Having looked at the half term travel market Abbey National has found that prices can be as much as 80 percent higher than when the children are in school, meaning credit cards will be used to take some of the strain.
It came as no surprise to find higher holiday costs when the schools are off but 80 percent was quite extreme thought the Abbey National, especially when the economic climate is such that parents are looking to save money where they can, whilst still doing the best for their children. Scottish parents will fare better than their English counterparts thanks to their school holidays being at different times.
Abbey National found that Spain will offer the best value for families and also suggested ways to save money, including booking in advance, finding the best offer on currency or perhaps using a credit card that saves foreign exchange costs.
Compare the Abbey National credit card rate for yourself at Moneygossip.co.uk.
American Express has just announced quarterly profits significantly lower than originally expected, leading to a fall in the share price.
The company saw profits down by a massive 38 percent and, accompanied by a warning for the future that earnings per share would be on the decline, shares traded 11 percent lower. Even though American Express is more closely aligned to wealthier clients they have still seen defaults climb as the United States mortgage problems have hit people at all levels.
An American Express spokesman explained that the organisation, though performing very well relative to other players in the market, is behind where it expects itself to be and this is a situation that could continue for some time.
