Business Loans 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.


Business Loans Articles

Unlocking the Secrets to Flexible Business Financing in Australia
Unlocking the Secrets to Flexible Business Financing in Australia
For emerging businesses seeking to navigate the vibrant economic currents of Australia, grasping the startup lending landscape is essential. A myriad of financing options, each with its distinct advantages and caveats, awaits the ambitious entrepreneur. In this sea of possibilities, securing the right funding becomes more than a mere necessity—it represents a decisive factor in charting the course toward business success. - read more
Secured vs Unsecured Business Loans: Which is Right for You?
Secured vs Unsecured Business Loans: Which is Right for You?
In Australia, business loans are a crucial tool for companies looking to grow, expand, or manage cash flow. From small enterprises to large corporations, securing funding can mean the difference between success and failure. The financial landscape is diverse, offering various loan options tailored to different needs and business models. - read more
Customized Leasing Solutions: Finding the Right Terms for Your Business Needs
Customized Leasing Solutions: Finding the Right Terms for Your Business Needs
Equipment leasing presents a strategic financial opportunity for Australian businesses seeking to maximize operational efficiency without the hefty price tag of purchasing. As many companies strive to stay competitive and agile in a bustling economic landscape, the importance of flexible asset acquisition cannot be understated. - read more
Bridging the Gap: Accessing Capital Through Start-Up Loans in Australia
Bridging the Gap: Accessing Capital Through Start-Up Loans in Australia
Embarking on a startup journey in Australia is both thrilling and challenging. You have a groundbreaking idea, but starting a business involves numerous hurdles—capital being a primary one. This is where business loans come into play. They are crucial lifelines that help convert entrepreneurial dreams into reality. - read more
Mastering Cash Flow: Essential Tips for Expanding Your Business's Working Capital
Mastering Cash Flow: Essential Tips for Expanding Your Business's Working Capital
Cash flow is the lifeblood of any business, signifying the money that flows in and out of your operations. It's essential for covering daily expenses, paying employees, and capitalizing on growth opportunities. Maintaining a healthy cash flow ensures that a business can meet its obligations and invest in its future. - read more
Alternative Funding Options for Your Australian Business
Alternative Funding Options for Your Australian Business
When it comes to starting or expanding a business in Australia, securing funding is often a top priority. However, traditional funding options, such as bank loans or government grants, can be difficult to obtain for small businesses. - read more
Understanding the Essential Documents Needed for a Successful Loan Application
Understanding the Essential Documents Needed for a Successful Loan Application
When it comes to applying for a loan, having the right documents is crucial. Whether you're looking to buy a home, start a new business, or refinance an existing loan, documentation can make or break your application. It serves as evidence of your financial health, providing lenders with a clear picture of your ability to repay the loan. - read more

Finance News

Payment Delays Put Working Capital Back on the SME Agenda
Payment Delays Put Working Capital Back on the SME Agenda
12 Aug 2026: Paige Estritori
Late invoice payments are again emerging as a practical funding issue for Australian small and medium-sized businesses, with fresh industry commentary pointing to continued pressure across trade payments, cash reserves and day-to-day operating liquidity. For business owners, the message is clear: revenue on paper is not the same as cash in the bank. - read more
Rising Business Failure Risk Puts Cash Flow Back in the Lending Spotlight
Rising Business Failure Risk Puts Cash Flow Back in the Lending Spotlight
04 Aug 2026: Paige Estritori
Fresh business risk signals are reinforcing a clear message for Australian SMEs: access to credit is still available, but lenders are likely to keep asking harder questions about cash flow, repayment capacity and the resilience of each borrower’s operating model. The latest commentary around business failures, trade payment pressure and sector-specific insolvency risk points to a market where credit decisions are becoming increasingly evidence-led. - read more
Business Borrowing Momentum Is Becoming More Selective
Business Borrowing Momentum Is Becoming More Selective
28 Jul 2026: Paige Estritori
Australia's business lending market appears to be entering a more selective phase, with the latest banking signals pointing to a widening gap between larger companies still seeking capital and smaller firms taking a more cautious approach. While credit is not disappearing, lenders are increasingly focused on serviceability, cash flow consistency and the purpose behind each new facility. - read more
Small Firms Tap the Brakes on Borrowing in June
Small Firms Tap the Brakes on Borrowing in June
21 Jul 2026: Paige Estritori
Australian small businesses appear to be moving into a more defensive phase, with new Equifax data for June 2026 pointing to a sharp divide between larger companies still borrowing for expansion and SMEs conserving cash. The latest Business Market Pulse suggests overall business loan demand is still growing, but at a slower pace than the stronger credit activity recorded late last year. - read more
Small Business Tax Debt Crackdown Sharpens Cash Flow Focus
Small Business Tax Debt Crackdown Sharpens Cash Flow Focus
07 Jul 2026: Paige Estritori
Australian small businesses may soon face a more disciplined tax debt collection environment, after the Australian National Audit Office found the ATO needs clearer targets for reducing collectable small business debt. The issue is substantial: small business collectable tax debt stood at $35.9 billion in 2024-25, representing about two-thirds of total collectable tax debt. - read more
Record Commercial Card Debt Points to Fresh SME Cashflow Pressure
Record Commercial Card Debt Points to Fresh SME Cashflow Pressure
30 Jun 2026: Paige Estritori
Australian small businesses are showing another sign of financial strain, with commercial credit card debt reaching a record level at the end of June. New analysis from Credit 2024 and Primara Research indicates total commercial card debt has climbed to about $2.26 billion, with almost a quarter of that sitting in high-interest balances rather than being cleared quickly. - read more
RBA Rate Pause Gives Businesses Time to Reassess Debt
RBA Rate Pause Gives Businesses Time to Reassess Debt
23 Jun 2026: Paige Estritori
The Reserve Bank of Australia’s decision on 16 June 2026 to leave the cash rate unchanged at 4.35% marks the first pause after three consecutive increases this year. For Australian business owners, the hold is not exactly relief, but it does create a short window to review debt settings before the next policy move. - read more

Need Help Finding a Loan?

Start here

Let us help you explore your business finance options.
Loan Amount:
Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.

All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Capital Market:
A financial market in which long-term debt or equity-backed securities are bought and sold.