New advice guide explains credit card rights

The UK Cards Association has published a new plain English advice guide giving Britain's 30 million credit card holders clear information about their rights when using their card.

‘Credit cards - your rights, a consumer guide' is being sent to every Citizens Advice Bureau in the country during May and is also available to download from theukcardsassociation.org.uk.

Credit card holders benefit from a range of protection that shoppers using either cash or cheques miss out on. For example, Section 75 of the Consumer Credit Act 1974 gives unique legal protection if a credit card is used to buy something costing between £100 and £30,000.

‘Credit cards - your rights, a consumer guide' sets out:

your rights if you don't get what you paid for or it turns out to be faulty;
if your credit card details are used by a fraudster;
if changes are made to your account;
if you need information from your card company;
if you are in financial difficulties; and
if you need to complain.

The advice guide follows a package of measures agreed by industry to help consumers manage their personal finances. These include:

provision of an Annual Credit Card Statement, to help consumers see at a glance how they have used their card, as well as fees and costs incurred;

best practice guidelines published on increases to minimum payments;

agreement to no longer impose debit card charges for purchasing currency or travellers' cheques in the UK;

the improvement of summary box information on foreign transaction fees, helping consumers to compare products against their own needs;

provision of better breakdowns of travel money charges on current account and credit card statements; and

best practice guidelines published on the role of card providers in the cancellation of recurring transactions.

Craig Jones, Spokesperson for The UK Cards Association said: "Credit cards offer a greater level of protection to consumers than payment by cash or cheques - meaning that purchases can be made with much greater confidence. To make sure that consumers know exactly what they are entitled to, we're pleased to publish this new advice guide, which sets out people's rights when shopping with a card. This sets out the full range of measures agreed by industry to better empower consumers when it comes to managing their finances."