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What Buyer Protection Do UK Shoppers Get With a Credit Card?

Buyer protection is one of the many perks that come with having a credit card. Buyer protection covers certain purchases and functions as a form of insurance. To know more about the typical buyer protection plan that comes with having a credit card, read on.

What is buyer protection?

Buyer protection is a form of insurance that provides a benefit for UK shoppers. This type of plan provides peace of mind to consumers who rely on their credit cards for major purchases. The typical plan offers buyer protection for one of two scenarios.

How does buyer protection work?

Many credit cards offer protection for 90 days or another established period of time. If the purchase is a qualifying purchase, the person is entitled to money back guarantee. The typical plan covers up to £50,000 for any given purchase made. Whenever the card is lost or stolen within a certain amount of time, it can be replaced and the buyer is reimbursed for any unauthorized purchases made. If the consumer purchases a product that turns out to be defective, the buyer can also reimbursed.

Different scenarios, different protections

If a person who has bought an item with a card has ruined it by accident, the person may not be able to benefit from credit protection plan. Purchase protection plans cover incidents like a bicycle were stolen. If a dog chews up a good item, the purchase protection plan benefits may not be utilized. Generally, items be stolen and pieces found to be productive aren't useful. It is important for consumers to review all of the exclusions in the event that there is some loss tied to a purchase. More information can be found here.

Other times when the buyer protection plan can be used

Although this doesn't happen often, a person can require support for something purchased from a company that has gone out of business. With this case, a purchase could be covered under a buyer protection plan. The issue lies with the party at fault and the general circumstances. It is generally believed that the person is not at fault for not having access to a company no longer in business.

Consumers with a UK credit card have buyer protection plans to cover any purchases made where there is some form of loss. If the item is defective, lost or stolen, one can use the protection plan to cover the loss. Yes, applying for a credit card is not just having credit when you need it, but it means shopping for one that gives you the best deal. Credit cardholders have peace of mind with buyer protection plans and don't have to worry about the costs of reimbursement or replacement of items.

If you are interested in consumer protection, read more about Youstice application – an innovative new tool to handle consumer disputes.

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