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