| March 9, 2011

Credit cards place in FTC’s Top 10 consumer complaints

While some consumers showed their dissatisfaction by avoiding the use of credit cards for payments over the last few months, many of the payment system’s active users issuers issued complaints directly to the Federal Trade Commission.

The FTC released a new report this week that detailed the subject matter of the more than 1 million consumer complaints they received this year. While credit cards were near the bottom of this list, several crimes relating to the payment system held the top spots.

Identity theft held the top spot on the list for the 11th year in a row, CNN reports. This crime involves thieves stealing personal information from consumers, which crooks later use to open up new lines of credit in a victim’s name.

Complaints about identity theft comprised 19 percent of the total number the FTC received, the news source says. In addition, credit card fraud and complaints about debt collection companies were also frequent.

Many of these credit card debt-inducing crimes involved email scams, as a result, consumers may want to remain vigilant about what type of information they place on the Internet.

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