Related Credit Card Article

"Credit Cards and Consumer Rights"

By admin | January 23rd, 2008 | Featured

Did you know that when you make payments using credit cards you are entitled to certain consumer rights? These consumer rights protect you against liability, frauds and offer you many other services.

Following is a review of some of these consumer rights:

Liability

When you purchase a product, the credit card company as well as the merchant establishment are jointly responsible for its safe delivery till your doorstep. If anything goes wrong that does not allow the purchased product to reach you (or in a condition that was promised to you), you can claim for a refund from your credit card company.

Fraud Protection

Credit card companies in the UK offer a maximum of £ 50 for transactions in case your card is lost or stolen. According to one estimate more than 13,000 credit and store cards are stolen in the UK everyday. The stolen credit cards account for £ 411.6 million fraud purchases a year.

Comparison Service

There are many credit card companies that allow you to apply for a refund of the price difference — if you find any product purchased using their card to be cheaper at a different store. However, such a discrepancy must be brought to the notice of the credit card company within seven months of purchase.

Warranties

Generally, credit card companies offer extended warranties on certain goods purchased using their credit card. For instance, if the manufacturer is providing a two-year warranty and if you choose to pay through a credit card that offers a warranty, you can extend this warranty till 3 years.

Apart from that there are certain government regulations that are specifically intended for consumers purchasing at a distance. These regulations aim to bring the consumers that make purchases electronically at par with those consumers that buy in a shop. These are some of the measures taken by the UK government in its commitment to strengthen the environment of electronic trading.

We hope that the above mentioned points were able to provide you with a fresh insight on consumers’ rights pertaining to credit card usage

Tags: consumer rights

Related Articles:

• Nationwide offers improvements on credit card warranty cover

  The Nationwide Building Society has announced that that it is making some changes to its warranties on its credit card, stating that many consumers could benefit from the changes that have been made, as they will receive greater protection on their purchases. The building society is offering extended warranties on a number of different product...

• Credit Card Protection

  ome credit card companies will offer you a period of time where the goods that you have bought will be ‘protected’. This means that should you suffer theft of these goods , damage or even lose them the credit card company may replace them through the cover in your credit card’s insurance plan. It is...

• Consumers may not get compensated following debit card theft

  A recent report has shown many banks in the UK are refusing to compensate customers who have had their debit cards stolen and money taken from their accounts. Although Chip and Pin, which has been in use in the UK for some years, is supposed to reduce the risk of fraud it is not fraud...

• Useful Tips on Avoiding ID Theft

  It has been said many times before but the saying is particularly true in this case the saying is most definitely true. Prevention IS better that cure. We will try to explain the cause and effect of the heinous crime and hopefully give you some tips on how to avoid being caught in the identity theft...

• What To Do If Your Credit Card Is Lost Or Stolen

  While credit cards can provide you with a high level of convenience, if they are stolen or lost you could be in a lot of trouble, especially if you don’t have cash. The situation can be even worse if you are traveling in a foreign country. The first thing you want to do is quickly...

Other Recent Articles

Greater numbers of users get contactless credit cards

According to a recent report a greater number of users are getting access to contactless credit cards, which are plastic...

By admin | July 3, 2009 | Read More

Credit repair credit cards could cause problems

It has recently been claimed that credit cards that are designed to repair the credit of users could actually end...

By admin | July 1, 2009 | Read More

Credit card rates soaring

It has been shown in a recent report how credit card interest rates in the UK are soaring, with the...

By admin | June 30, 2009 | Read More

Credit card firms clamp down on travel agents

Over recent months, with the recession setting in, financial conditions becoming increasingly difficult and unemployment levels rising, the travel business...

By admin | June 28, 2009 | Read More

Credit card debt levels increased in April

Recent figures released by the Bank of England have indicated that the level of credit card debt in April of...

By admin | June 25, 2009 | Read More