Make sure that your credit card offers purchase protection
UK consumes are being warned to ensure that their credit cards offer purchase protection before they go ahead and use them to make large, costly purchases. It seems that many consumers simply assume that their credit card will offer this protection as part and parcel of the benefits, but experts warn that this is not the case, and that even some gold and platinum cards do not offer this benefit as part of the standard package.
 According to experts using the right credit card to make purchases could provide you with up to fifteen hundred pounds worth of protection cover for free, providing valuable peace of mind when using your card to make costly purchases. When shopping on your credit card you should first read the terms and conditions to check whether you automatically have purchase protection cover, and also to ascertain just what level of free purchase protection you receive with your card.
Sean Gardner, chief executive of Moneyexpert, stated: "Purchase protection is a nice bonus, particularly at this time of year. It covers you against those frustrating eventualities such as accidental damage or even theft – things that won’t often be covered by a product’s guarantee or warranty." He added: "Don’t assume that your card has purchase protection. Even some gold and platinum cards don’t include it as standard so check the small print to be sure."
In most cases consumers that have this purchase protection cover on their cards can enjoy around nintey days of protection against theft, loss, or damage. Over one hundred cards do offer free purchase protection to consumers as part of the standard benefits, but only around twenty two offer protection on purchases over the cost of one thousand pounds. Consumers should ensure that they read the small print to check on the level of cover they have.
Alisdair Milton
18th December 2006
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