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People refused a credit card 'may be victims of fraud'

An unfair credit rating due to fraud is a common problem for many, home insurer LV= has warned.

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1 May 2009

People refused a credit card 'may be victims of fraud'”

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The insurer also stated that a total of 40 per cent of people who have been targeted by identify fraudsters have been refused a credit card.

And according to LV= research, credit problems have affected nearly half of all Brits in the UK.

Commenting on the figures, John O'Roake, managing director of the lender, said: " Our research shows that an unfair credit rating is a common problem for many and more worryingly, identity fraud is likely to rise sharply in the coming years."

LV= have set up a fraud helpline for their home insurance customers for those who think that they may have been targeted.

According to the research, mistaken identity is one of the main reasons for people being refused credit due to fraud.

A total of 16 per cent of victims of mistaken identity blame a previous occupant of their home.

Saga has also said that fraudsters are more likely to target the vulnerable.

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