Consumer Protection

Liability

When you purchase a product, especially if you make an advanced order, the credit card company is jointly and severally liable with the merchant for the delivery of that product. This means that if the supplier should go out of business before you take delivery, you may still be able to get a refund from your credit card issuing company. This protection depends on the type of product bought, and the individual circumstances of the case.

Fraud protection

As a general rule, you are covered far more against fraudulent transactions made with your credit card, than you are against fraudulent transactions on a debit card. If your card is lost or stolen, you are legally liable for a maximum of £50 for transactions on a credit card, whereas there is no such limit for any transactions made on a debit card.

Comparison service

Some issuers, such as Barclaycard, will allow you to apply for a refund of the price difference should you find any item purchased using their card cheaper at a different store within a seven-day period. As with other credit card features, this offer has a number of restrictions, and you would be expected to try and claim under the store's price match policy first.

Extended Warranties

Barclaycard and Nationwide offer an extended warranty on certain goods purchased with their credit card. This warranty is valid in addition to any manufacturer/retailer warranty you may receive. For example, if the manufacturer provides a 2-year warranty, then these cards will extend that warranty to 3 years. Again, there are exceptions on the types of goods covered by this extended warranty.