Money UK Credit Card Protection Extended
Tuesday, 07 August 2007 01:00
Credit card protection has now been extended to foreign transactions following a recent court case.
Section 75 of the Consumer Credit Act 1974 provides safeguards for credit card users who have received faulty goods or services. Until now this protection was only available to purchases made by UK credit cards from a UK registered company. But following a court case and unsuccessful appeal by credit card companies all that is about to change.
The law states that the purchaser has an equal claim against both their card issuer and the retailer in the event of things going wrong.
So what does this mean for you? Well, using your credit card abroad can now provide you with financial protection if the company you buy from delivers faulty goods or goes bust before you receive the goods. If the company won't pay up the credit card company will.
Protection also now extends to purchases from the internet where the location of the company may not be in the UK.
Protection only applies to purchases of over £100 but less than £30,000, and the law does not apply to debit cards.
Using suppliers who accept credit cards in Fethiye is a good idea in any case as it shows the company has the financial standing to back up their promises. However, many local traders would rather you used cash as their transaction costs are over 6% in some cases.
Safe shopping!
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