Homeowners who bought during the property boom are almost twice as likely to fall behind in their mortgage repayments.
A six-monthly review by the Reserve Bank of Australia found there had been a "modest'' increase in the number of home loans three month in arrears. The greatest increase was seen in New South Wales where prices were highest and have fallen back, followed by South Australia, Victoria and Queensland.
Some of the blame was directed towards the big banks which were accused of relaxing lending criteria.
This however can be disputed on the grounds that the boom peaked three years ago, when lending was strictly that it is said to be today. The other variable is that many of the non conforming lenders have less strict guidelines than the banks, offering loans to borrowers with bad credit.
In fact the six-monthly review found new loans to buy property sourced three to four years ago - the top of the housing boom - had a higher rate of arrears than new loans in other times. Almost 30 per cent of Australians are paying off their home. "Borrowers that took out a loan in 2003 and 2004 are more likely to have bought at around the peak of the market,'' the RBA said. ``And with the higher level of interest rates, have had less opportunity to build up repayment buffers.'' The RBA said the introduction of "low-doc loans'' -- mortgages where the homeowner or home buyer has to provide little information -- had raised the risk of running into the red. "The higher arrears rate is hardly surprising given the general lowering of credit standards that has occurred since the mid 1990s,'' the report said.
The average loan is now $230,652 and the minimum repayment now consumes about 27.7 per cent of a household's income. That figure is lower than in 1989, when rates were 17 per cent, when 30.4 per cent of income had to be spent.
But Commsec chief economist Craig James said that while arrears rate had increased, it was still at an historic low. "The RBA acknowledges that household finances have been stretched by recent developments -- code words for higher interest rates and petrol prices,'' Mr James said. "The bank believes that balance sheets are in good shape, especially given that people have generally adopted a more cautious approach to their finances.''
Source: Herald Sun
Wednesday, October 11, 2006
Is the National Australia Bank about to sell its credit card unit?
The National Australia Bank won’t comment on speculation it may sell its $3 billion credit card business, prompting analysts to ponder the merits of such a move.
But Geoff Driver, general manager of Australian Foundation Investment Company, said a "review" did not necessarily imply a sale.
He said it would be impossible to judge the merits of any prospective sale without seeing the detail of the propositions.
On the basis that a major bank like the NAB could not operate without offering credit cards, for growing its customer bases and up-selling and cross selling many feel that they would be really thinking about some distribution arrangement.
If a sale were to proceed an overseas player in the Australian banking sector would be the potential buyer, with Citibank, HSBC and GE as possible contenders.
NAB comes last in the big four Australian banks as an issuer of credit cards in Australia, and the credit card offers are ranked poorly compared with the Commonwealth bank and Westpac offerings.
Interestingly, Citigroup have set a goal to take NAB's place as the nation's fourth-largest issuer of credit cards. Competition for market share has driven card interest rates down, trimming the margin that made cards profitable.
Some cards are now available with interest rates as low as 8.99 per cent, well down on the rates of 16 to 18 per cent applying on almost all cards only a few years ago.
But Geoff Driver, general manager of Australian Foundation Investment Company, said a "review" did not necessarily imply a sale.
He said it would be impossible to judge the merits of any prospective sale without seeing the detail of the propositions.
On the basis that a major bank like the NAB could not operate without offering credit cards, for growing its customer bases and up-selling and cross selling many feel that they would be really thinking about some distribution arrangement.
If a sale were to proceed an overseas player in the Australian banking sector would be the potential buyer, with Citibank, HSBC and GE as possible contenders.
NAB comes last in the big four Australian banks as an issuer of credit cards in Australia, and the credit card offers are ranked poorly compared with the Commonwealth bank and Westpac offerings.
Interestingly, Citigroup have set a goal to take NAB's place as the nation's fourth-largest issuer of credit cards. Competition for market share has driven card interest rates down, trimming the margin that made cards profitable.
Some cards are now available with interest rates as low as 8.99 per cent, well down on the rates of 16 to 18 per cent applying on almost all cards only a few years ago.
National Australia Bank says home loan interest rates on hold until 2007
The National Australia Bank (NAB) says its latest analysis of the business climate consolidates the view that official mortgage home loan interest rates will remain on hold for the rest of the year.
For September, the bank's measure of business conditions indicates that they have recovered just a little after two months of decline.
A pick-up in the retail sector has been offset by weaker construction sector especially new homes, land development and building apartments and home units.
Some improvement in Victoria, including home building, has been balanced by softer conditions in New South Wales and Queensland.
Business confidence has remained unchanged after falling sharply in recent months.
So on balance the NAB feels that the official cash rate as set by the Reserve Bank of Australia will remain steady until at least the early part of 2007. This is good news for small business and homeowners with mortgages to repay as well as prospective home buyers.
For September, the bank's measure of business conditions indicates that they have recovered just a little after two months of decline.
A pick-up in the retail sector has been offset by weaker construction sector especially new homes, land development and building apartments and home units.
Some improvement in Victoria, including home building, has been balanced by softer conditions in New South Wales and Queensland.
Business confidence has remained unchanged after falling sharply in recent months.
So on balance the NAB feels that the official cash rate as set by the Reserve Bank of Australia will remain steady until at least the early part of 2007. This is good news for small business and homeowners with mortgages to repay as well as prospective home buyers.
Sunday, September 03, 2006
Victim nabs suspected thief of his credit card
A little bit of his own detective work and some luck helped a sharp-eyed victim of credit card fraud catch the man police say charged up a giant TV and several appliances on his stolen credit card.
As Joel Guimares, 25, drove by the Dunkin’ Donuts on Route 9 in Framingham yesterday on the way to work, he recognized the man he watched on a Target store security video recording using Joel's credit card to buy a flat-screen TV, convection oven, coffeemaker and other items.
“I was following the guy, and I was calling the police at the same time,” said Guimares, who lives in Framingham. “He ended up driving by the police headquarters, and they got him there.”
The suspect, Donald Larsen, 34, a manager at a Whole Foods Market, was charged with larceny of property worth more than $250 and credit card misuse.
Guimares got a call Monday from his credit card company about the possible misuse of his credit card. He had lost his wallet at the same Dunkin’ Donuts where he spotted the suspect.
The credit card company told him someone had spent about $2,000 at the Target on Route 30. Guimares said he went there and asked to see the security video recording.
He watched, but did not recognize the man buying the television.
But yesterday, while driving to his job at the Framingham Saab dealership, he recognized the face he saw.
Larsen drove away, Guimares followed and called the police with the license plate number, and Larsen was arrested.
As Joel Guimares, 25, drove by the Dunkin’ Donuts on Route 9 in Framingham yesterday on the way to work, he recognized the man he watched on a Target store security video recording using Joel's credit card to buy a flat-screen TV, convection oven, coffeemaker and other items.
“I was following the guy, and I was calling the police at the same time,” said Guimares, who lives in Framingham. “He ended up driving by the police headquarters, and they got him there.”
The suspect, Donald Larsen, 34, a manager at a Whole Foods Market, was charged with larceny of property worth more than $250 and credit card misuse.
Guimares got a call Monday from his credit card company about the possible misuse of his credit card. He had lost his wallet at the same Dunkin’ Donuts where he spotted the suspect.
The credit card company told him someone had spent about $2,000 at the Target on Route 30. Guimares said he went there and asked to see the security video recording.
He watched, but did not recognize the man buying the television.
But yesterday, while driving to his job at the Framingham Saab dealership, he recognized the face he saw.
Larsen drove away, Guimares followed and called the police with the license plate number, and Larsen was arrested.
Hands off the RBA [Reserve Bank of Australia]
Lower mortgage home loan interest rates are important to homeowners and home buyers and all the industries that rely on them, but is the Howard Government trying to manipulate the Reserve Bank of Australia's decisions on interest rates for politic advantage?
The fine balance of economic power between our elected government, which controls fiscal policy, and the appointed Reserve Bank, which controls interest rates, has never been an easy one and it is certainly not likely to get any easier as economic conditions get more difficult.
But separating politics from mortgage home loan interest rates is one of the best things that has ever happened to the Australian economy.
As the past 15 consecutive years of economic growth provides good testament to, Reserve Bank independence has served us very well and far better than if the Federal Treasurer still had his hands "on all of the levers" as Paul Keating once boasted.
Rather than setting interest rates with votes in mind, the RBA has a simple measure of its success, to encourage a high rate of economic growth without endangering its 2 per cent to 3 per cent inflation target.
By contrast, politics is all about securing power.
When governments had control of interest rates, they were set with votes in mind and the economy second. If there was a line-ball decision to be made, votes won and the economy lost out.
However, it is very clear from the recent comments of the retiring Reserve Bank governor that the road that an independent central bank has to follow is sometimes a rocky one.
Politicians find it hard not to take credit for what the bank does right and to complain bitterly when it does things that they see as impairing their popularity.
Indeed, just a few weeks ago the Treasurer started talking about what "we" look at when "we" set interest rates, implying that he had something to do with it. He does not. Similarly, the RBA governor's recent comments make clear his distress at the Prime Minister's interest rate claims during the last election.
Going into a period of greater economic uncertainty, these pressures are only going to increase.
Already the bank has made it clear the economic stimulus provided by Canberra's tax cuts was a factor in forcing its hand to increase interest rates, in order to offset the inflationary pressures resulting from the tax cuts.
This puts the Government in a challenging position as it is now on notice that further vote buying tax cuts could result in vote shedding interest rate increases.
The last thing our economy needs is for open warfare, or indeed angst behind closed doors, to develop between the RBA and the Government.
One of Peter Costello's best decisions was to formalise the agreement between the Government and the RBA on the conduct of monetary policy.
It is in all our interests that this agreement be honoured in both its letter and intent.
Source: Courier Mail. Tim Hughes is a director of Value Capital Management.
The fine balance of economic power between our elected government, which controls fiscal policy, and the appointed Reserve Bank, which controls interest rates, has never been an easy one and it is certainly not likely to get any easier as economic conditions get more difficult.
But separating politics from mortgage home loan interest rates is one of the best things that has ever happened to the Australian economy.
As the past 15 consecutive years of economic growth provides good testament to, Reserve Bank independence has served us very well and far better than if the Federal Treasurer still had his hands "on all of the levers" as Paul Keating once boasted.
Rather than setting interest rates with votes in mind, the RBA has a simple measure of its success, to encourage a high rate of economic growth without endangering its 2 per cent to 3 per cent inflation target.
By contrast, politics is all about securing power.
When governments had control of interest rates, they were set with votes in mind and the economy second. If there was a line-ball decision to be made, votes won and the economy lost out.
However, it is very clear from the recent comments of the retiring Reserve Bank governor that the road that an independent central bank has to follow is sometimes a rocky one.
Politicians find it hard not to take credit for what the bank does right and to complain bitterly when it does things that they see as impairing their popularity.
Indeed, just a few weeks ago the Treasurer started talking about what "we" look at when "we" set interest rates, implying that he had something to do with it. He does not. Similarly, the RBA governor's recent comments make clear his distress at the Prime Minister's interest rate claims during the last election.
Going into a period of greater economic uncertainty, these pressures are only going to increase.
Already the bank has made it clear the economic stimulus provided by Canberra's tax cuts was a factor in forcing its hand to increase interest rates, in order to offset the inflationary pressures resulting from the tax cuts.
This puts the Government in a challenging position as it is now on notice that further vote buying tax cuts could result in vote shedding interest rate increases.
The last thing our economy needs is for open warfare, or indeed angst behind closed doors, to develop between the RBA and the Government.
One of Peter Costello's best decisions was to formalise the agreement between the Government and the RBA on the conduct of monetary policy.
It is in all our interests that this agreement be honoured in both its letter and intent.
Source: Courier Mail. Tim Hughes is a director of Value Capital Management.
More Homeowners are changing over to fixed interest rate mortgage loans
The number of home-buyers locking in their mortgages to a fixed interest rate, rather than the variable rate, to avoid the possinblity of a still higher interest rate burden has nearly doubled during the past year.
Australians borrowed a total of $20.53 billion during June in a sign of a rebound in the national property market. The surge was led by people buying investment properties to take advantage of the tax breaks on offer last year.
The property finance results showed people borrowed 2 per cent more during June compared with the month before.
Nearly 64,000 houses were bought despite the Reserve Bank of Australia raising rates just one month earlier.
The number of new mortgages taken out and fixed for two years has started to climb, according to the Australian Bureau of Statistics' figures.
During June, 10,963 loans were fixed, which accounted for 16.7 per cent of all the mortgages.
The result was up from just 10.3 per cent last year, showing home-buyers were concerned about the future movements of interest rates.
Economists said yesterday the 2 per cent rise in borrowing levels was further justification for the RBA's August rate rise.
The double blow of two rate increases is expected to cool the national appetite to borrow money.
TD Securities chief economist Stephen Koukoulas said there was room for growth in the housing market over the next few months. "Housing finance commitments are continuing to power ahead," he said. "The level of interest rates were no constraint to stronger levels of activity."
Mr Koukoulas said the level of investment in housing should move even higher later this year.
But one downside in the finance figures was a sustained fall in the number of first home buyers.
Of all of the purchases, 17 per cent were first-time buyers - the lowest for a year. CommSec economist Craig James said the size of mortgages was forcing those who rent to stay put.
The average home loan is now $227,800 in Australia.
The value has fallen over the past six months and is growing at the slowest rate in nearly five years.
"First home buyers are heading for the exit doors, with the exodus likely to continue in coming months," Mr James said.
"First home buyers are caught between a rock and a hard place. Mortgages are more expensive, causing buyers to retreat to the sidelines."
Economists said the growth in borrowings would not overly concern the RBA because it would have factored it into the decision to raise rates. The next rate movement is still expected to be in November.
Souce: Newscorp
Australians borrowed a total of $20.53 billion during June in a sign of a rebound in the national property market. The surge was led by people buying investment properties to take advantage of the tax breaks on offer last year.
The property finance results showed people borrowed 2 per cent more during June compared with the month before.
Nearly 64,000 houses were bought despite the Reserve Bank of Australia raising rates just one month earlier.
The number of new mortgages taken out and fixed for two years has started to climb, according to the Australian Bureau of Statistics' figures.
During June, 10,963 loans were fixed, which accounted for 16.7 per cent of all the mortgages.
The result was up from just 10.3 per cent last year, showing home-buyers were concerned about the future movements of interest rates.
Economists said yesterday the 2 per cent rise in borrowing levels was further justification for the RBA's August rate rise.
The double blow of two rate increases is expected to cool the national appetite to borrow money.
TD Securities chief economist Stephen Koukoulas said there was room for growth in the housing market over the next few months. "Housing finance commitments are continuing to power ahead," he said. "The level of interest rates were no constraint to stronger levels of activity."
Mr Koukoulas said the level of investment in housing should move even higher later this year.
But one downside in the finance figures was a sustained fall in the number of first home buyers.
Of all of the purchases, 17 per cent were first-time buyers - the lowest for a year. CommSec economist Craig James said the size of mortgages was forcing those who rent to stay put.
The average home loan is now $227,800 in Australia.
The value has fallen over the past six months and is growing at the slowest rate in nearly five years.
"First home buyers are heading for the exit doors, with the exodus likely to continue in coming months," Mr James said.
"First home buyers are caught between a rock and a hard place. Mortgages are more expensive, causing buyers to retreat to the sidelines."
Economists said the growth in borrowings would not overly concern the RBA because it would have factored it into the decision to raise rates. The next rate movement is still expected to be in November.
Souce: Newscorp
Mortgage Manager and Financial Services Giant adds fees to build bottom line
By increasing fee incomes, the James Packer-backed Mortgage Manager, Mortgage funder, and Funds Manager and is gaining traction as a mainstream financial services group.
Challenger Fiancial Services yesterday announced an increase of 28 per cent in statutory net profit, after tax and before significant items, to $153 million.
Funds management fees, a steady, predictable income stream, grew from $218 million, or 67 per cent of Challenger's net income, to $315 million.
"Fees now account for roughly 70 per cent of net income," said Michael Tilley, managing director of Challenger, trumpeting what he sees as one of the more significant achievements of his tenure.
Challenger now categorises its business into mortgage management, funds management, asset management and financial planning. It was formerly categorised under annuities, wealth management and mortgages.
Since he took over as CEO of Challenger in August 2004, Mr Tilley has made a concerted effort to break with the past.
The funds management group has diversified the portfolio, backing its annuities into more fixed income and infrastructure.
At the same time, it embraced Macquarie's specialist funds model, selling a listed and unlisted infrastructure fund. Yesterday, Challenger took another step in that direction when Mr Tilley said it was sounding out the market about the launch of a listed property trust, capitalised at over $500 million.
Challenger will take a stake of up to 40 per cent in the new fund, but the underlying purpose is to further rebalance the portfolio backing the company's annuity book. More than half is still invested in property, while Challenger has 21 per cent in infrastructure and the remainder mostly in fixed interest.
The target is to move to a mix where property, infrastructure and fixed interest take 30 per cent each, and equities take 10 per cent.
Funds management was another bright spot for Challenger. Chris Cuffe, who built Colonial First State's money management machine, spearheaded the growth of Challenger's funds management group until he quit in February to join not-for-profit microfinance group Opportunity Australia. Mr Cuffe said at the time he was leaving the group in good shape.
"We broke through the break-even point (with funds management)," Mr Tilley said yesterday. "In 2005, for more than half the year, we were losing money."
But after acquiring HSBC's local asset management operation and increasing assets organically, the funds management group gained sufficient assets to generate a profit.
Funds management earnings before interest and tax switched from a $10 million loss last year to a $24 million gain.
Challenger Fiancial Services yesterday announced an increase of 28 per cent in statutory net profit, after tax and before significant items, to $153 million.
Funds management fees, a steady, predictable income stream, grew from $218 million, or 67 per cent of Challenger's net income, to $315 million.
"Fees now account for roughly 70 per cent of net income," said Michael Tilley, managing director of Challenger, trumpeting what he sees as one of the more significant achievements of his tenure.
Challenger now categorises its business into mortgage management, funds management, asset management and financial planning. It was formerly categorised under annuities, wealth management and mortgages.
Since he took over as CEO of Challenger in August 2004, Mr Tilley has made a concerted effort to break with the past.
The funds management group has diversified the portfolio, backing its annuities into more fixed income and infrastructure.
At the same time, it embraced Macquarie's specialist funds model, selling a listed and unlisted infrastructure fund. Yesterday, Challenger took another step in that direction when Mr Tilley said it was sounding out the market about the launch of a listed property trust, capitalised at over $500 million.
Challenger will take a stake of up to 40 per cent in the new fund, but the underlying purpose is to further rebalance the portfolio backing the company's annuity book. More than half is still invested in property, while Challenger has 21 per cent in infrastructure and the remainder mostly in fixed interest.
The target is to move to a mix where property, infrastructure and fixed interest take 30 per cent each, and equities take 10 per cent.
Funds management was another bright spot for Challenger. Chris Cuffe, who built Colonial First State's money management machine, spearheaded the growth of Challenger's funds management group until he quit in February to join not-for-profit microfinance group Opportunity Australia. Mr Cuffe said at the time he was leaving the group in good shape.
"We broke through the break-even point (with funds management)," Mr Tilley said yesterday. "In 2005, for more than half the year, we were losing money."
But after acquiring HSBC's local asset management operation and increasing assets organically, the funds management group gained sufficient assets to generate a profit.
Funds management earnings before interest and tax switched from a $10 million loss last year to a $24 million gain.
Friday, July 28, 2006
Credit card fraud. What to do if you believe that you are a victim.
If you suspect at any time that you are he victim of credit card fraud, you need to take immediate action.
It's vital to call your card issuer immediately - all banks will have 24-hour emergency phone lines for this purpose - and explain what's happened and why you feel you have been defrauded.
Also inform the police as this could speed up refunds for any unauthorised use.
If someone else makes a purchase with your card before you inform your bank, the most you will be liable to pay is a token fee. The bank will wear the cost.
However, most banks may waive this fee.
On the otherhand, if you have acted negligently - for example, you've stored details of your PIN in the wallet holding your card - your bank may not refund the money.
It's vital to call your card issuer immediately - all banks will have 24-hour emergency phone lines for this purpose - and explain what's happened and why you feel you have been defrauded.
Also inform the police as this could speed up refunds for any unauthorised use.
If someone else makes a purchase with your card before you inform your bank, the most you will be liable to pay is a token fee. The bank will wear the cost.
However, most banks may waive this fee.
On the otherhand, if you have acted negligently - for example, you've stored details of your PIN in the wallet holding your card - your bank may not refund the money.
Credit cards. Safe ways to withdraw cash from your card
Credit card owners must remain vigilant with ATM fraud.
Cash-machine fraud was down in 2005. However, the experts agree it's still a substantial problemas the fraudsters' techniques improving.
Typically a fraudster attaches a card reader to the outside of the slot into which you put your card - these devices can be hard to spot as they look like part of the machine.
This is a robbery that you never realise has taken place.
The details can lead to a new, fraudulent card with a fresh signature being made, which can then be maxed out to its limit.
Many fraudsters will now be out to get your PIN too, and they don't need to be standing looking over your shoulder to do this; they can rely instead on a pin-hole camera that records the PIN you enter on the keyboard.
Pin-hole cameras have a lens as small as a full stop.
If one of these is installed into a cash machine, it's unlikely you'll see it, but you may be able to see the card reader.
So, when approaching a machine that has other ones beside it, check if all the machines look the same.
What does a card reader look like?
One type of card reader is a flat, flexible piece of plastic that the fraudster will slot into the machine, coming back to pull it out and plug it into a computer.
The more common type is an external reader. The slot on the face of a machine that has one of these attached to it will be raised and possibly a different colour to the rest of the parts of the machine.
The external reader is glued on to the front of the slot and copies your card as it passes through. Most banks machines have smooth-fronted card slots, not raised, so this is a good indicator to look out for.
Also, be particularly wary if adjoining cash points have 'out-of-order' signs on them, as this can be a ploy to divert customers to the machine that has been tampered with.
This also goes for the out-of-order sign on the screen, as a criminal will break a machine that they cannot get a camera or card copier into to get you to use one that they have been able to crack into.
To get round pin-hole cameras it's also worth shielding the keyboard with your spare hand as you enter your PIN.
The safest methods of withdrawing cash with your credit card.
ATMs inside bank branches are very often a safer bet, but one of the safest ways to withdraw cash from your account is to get cashback at the supermarket. Many supermarkets are open 24 hours a day, and the best bit is that the card never leaves your sight.
But take note of what's happening around you, never share your account details with anyone and never let your card out of your sight.
Cash-machine fraud was down in 2005. However, the experts agree it's still a substantial problemas the fraudsters' techniques improving.
Typically a fraudster attaches a card reader to the outside of the slot into which you put your card - these devices can be hard to spot as they look like part of the machine.
This is a robbery that you never realise has taken place.
The details can lead to a new, fraudulent card with a fresh signature being made, which can then be maxed out to its limit.
Many fraudsters will now be out to get your PIN too, and they don't need to be standing looking over your shoulder to do this; they can rely instead on a pin-hole camera that records the PIN you enter on the keyboard.
Pin-hole cameras have a lens as small as a full stop.
If one of these is installed into a cash machine, it's unlikely you'll see it, but you may be able to see the card reader.
So, when approaching a machine that has other ones beside it, check if all the machines look the same.
What does a card reader look like?
One type of card reader is a flat, flexible piece of plastic that the fraudster will slot into the machine, coming back to pull it out and plug it into a computer.
The more common type is an external reader. The slot on the face of a machine that has one of these attached to it will be raised and possibly a different colour to the rest of the parts of the machine.
The external reader is glued on to the front of the slot and copies your card as it passes through. Most banks machines have smooth-fronted card slots, not raised, so this is a good indicator to look out for.
Also, be particularly wary if adjoining cash points have 'out-of-order' signs on them, as this can be a ploy to divert customers to the machine that has been tampered with.
This also goes for the out-of-order sign on the screen, as a criminal will break a machine that they cannot get a camera or card copier into to get you to use one that they have been able to crack into.
To get round pin-hole cameras it's also worth shielding the keyboard with your spare hand as you enter your PIN.
The safest methods of withdrawing cash with your credit card.
ATMs inside bank branches are very often a safer bet, but one of the safest ways to withdraw cash from your account is to get cashback at the supermarket. Many supermarkets are open 24 hours a day, and the best bit is that the card never leaves your sight.
But take note of what's happening around you, never share your account details with anyone and never let your card out of your sight.
Credit card smart. How to use your credit card safely
Nobody plans to be a victim of credit card fraud. But criminals have other ideas, so its important to be mindful of using best practices to minimise the chances of having your credit card account maxed out by others. In particular do the following.
- Sign any new cards as soon as you receive them.
- Use different PINs for different cards.
- Memorise your PINs and do not write them down.
- Never give anyone else your PIN details or any other account information.
- Remember that your bank will NEVER request details of your PIN or whole passwords, by email or letter or over the phone.
- Destroy copies of any receipts that detail your card details.
- Regularly check your cards to ensure none have gone missing
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