Many credit card and bank account holders are being spoon fed, allsorts of flannel and that’s what it is flannel about all of the protection that they are offering us when it to fraud on our credit cards.

So many now are telling us that they are offering credit card protection for fraud on our purchases over the Internet and if we may suffer any identity fraud of any description, this is a great thing that they are doing, but if you really take a look at the policies that they are offering and you will see that we are not as well covered, as the credit card companies and banks would like us to think that we are.

Very few actually cover us for any financial loss that we mat occur and this is the very reason that we are taking out these credit cards and in some cases we are even being extra safe and paying the credit card issuers for the privilege of having protection against card fraud and identity fraud.

For example the Royal Bank of Scotland offers a service that seems to cover every base imaginable in the fight against fraud, but will cost they’re customers £80 or over every year, though Barclaycard also want a payment for they’re credit card fraud protection, they do charge considerably less than the RBS, at around the £40 mark.

But do we really need the level of cover that the credit card issuers and banks are offering, especially if we have to pay up for it, well if you invest what you would save by not taking out the fraud protection on a shredder, to use on any sort of document or letter that may hold any information on it, no matter how irrelevant it may seem.

Not to give any personal information over the phone or Internet, make sure that you keep any bank or credit card statements in a safe place, never carry any Pin’s or passwords with you, as you will already know if you lose your wallet or purse, you will loose the information that a crook needs to access your accounts.

This may save you the worry of cutting out the chances of falling victim to credit card fraud and save you a bit of cash on costly protection that in most cases will cause you more bother than they are worth, in fighting with the credit card issuer, who should be fighting for you.