Credit cards customers 'better protected than ever'

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Credit cards customers 'better protected than ever'

Mon 19th Apr 2010

Consumers using credit cards for purchases are well protected by finance legislation that aims to make such transactions as fair as possible for buyers, a representative from the Payments Council has claimed.

Jemma Smith, head of PR at the industry body, explained that people are covered in case of their card being used fraudulently, with account-holders only liable to pay if they can be proved to have been negligent.

She highlighted how there is extra protection on credit cards as a result of the Consumer Credit Act, which stipulates that individuals may be able to claim money back from their finance provider if they receive faulty goods or if the retailer goes bankrupt.

"We've also seen a big drop in card not present fraud according to recent figures which clearly shows that work is being done with retailers and payments systems to make their presence felt," stated Ms Smith.

Earlier this month, head of research at MoneyExpert.com picked out Sainsbury's Finance's two new credit cards as particularly good deals for consumers.

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