How many times do you do the mistake of throwing a credit card into the drawer or cutting it up if you are not using it? Well until you cancel the credit card with your card provider, the credit card remains live and it can be used by anybody to pile up debts or make purchases on your behalf.
As per Alison Nicholson, director at MyCallcredit:
Unless you tell the card company you want to cancel it, the card remains live. If a fraudster gets hold of the details they can rack up bills without your knowledge. ID fraud is one of the fastest growing types of fraud in the UK but people can protect themselves from the inconvenience and cost of being a victim by simple administration of their finances.
