Saving and investing news
Overseas credit card purchases 'still protected'
12 March, 2008
Credit card issuers should not need any extra evidence from UK consumers seeking a refund for money they have lost while abroad, one industry body has said.
Mark Bowerman, a spokesperson for the card payment agency Apacs, explained that the card issuer should already have details of any transaction and a consumer just needs to contact the provider in order to start a refund claim.
Bowerman said: "The transaction would be on the statement and the credit card company would have records of it so they would just have to flag it up with their card company and the card company would tell them what they need to do."
A landmark ruling by the House of Lords in October of last year confirmed that under section 75 of the Consumer Credit Act 1974, people are protected when purchasing goods between the value of £100 and £30,000 if the transaction takes place overseas.
However, Mr Bowerman warned this only applies to purchases and not fraud commited against a card holder.
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