LEEDS, UNITED KINGDOM — (Marketwire) — 11/11/12 — There are millions of credit card holders in Britain, but the risk of fraud can be significant. looks at ways you can .
Figures show that online banking fraud increased by a massive 14% between 2008 and 2009 as criminals are becoming more tech savvy(i). Cardholders are often duped with email scams, computer viruses and malware which attacks unprotected computer systems.
Credit card holders have some level of protection however, under the Consumer Credit Act 1974. Under section 75 of the act, cardholders now have legal protection of a credit card that is used to purchase something between GBP 100 and GBP 30,000(ii).
This also gives you protection should you not be happy with your purchase or the credit card company or the company your bought goods and services from goes bankrupt.
Even overseas web purchases are protected as this law applies to everything you buy on credit cards. Whether you purchase an item in the UK, overseas on holiday or on a foreign website you are protected.
There are additional forms of credit card protection and your lender might offer a fraud prevention service. You can also take matters into your own hands by taking a few simple steps to protect your card.
Top tips to protect your card
Notes to editors
(i)Source: The UK Cards Association, New advice guide explains credit card rights, 03/05/12
(ii)Source: The UK Cards Association, New advice guide explains credit card rights, 03/05/12
About Asda Money Credit Card
(i)Balance Transfer Terms and Conditions: Balance Transfer fee of 2.9% (minimum fee GBP 3 per transaction) will be charged in respect of each Balance Transfer. Subject to account status. Account Terms and Conditions apply. You can Balance Transfer up to 80% of the available credit limit within the first 90 days of account opening. Balance Transfers from existing storecard accounts and loans issued by Creation Financial Services Ltd or Creation Consumer Finance Ltd and credit card accounts issued by Sygma Bank UK are not permitted. Minimum value for Balance Transfer is GBP 50. At the end of the promotional period you will be charged the Standard Rates of Interest in accordance to your Account.
Asda Money is a trading name of Asda Stores Limited. Asda StoresServices Limited uses a selection of companies to provide its products and services. Please refer to for details of our product partners and the relevant terms and conditions for each of our products and services.
Subject to status. Applicants must be aged 18 or over and UK resident (including Isle of Man and Channel Islands). The Asda Money Credit Card is issued by Sygma Bank UK, a Creation Group company, Chadwick House, Blenheim Court, Solihull B91 2AA.
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