Credit Card Articles
Transport for London has announced its plan to introduce contactless credit cards as a more efficient payment system. Credit and debit cards will now be accommodated to pay for fares in buses, the tube, trams, the London Overground, the Docklands Light Railway (DLR), even luxury coaches. TfL aim to introduce the new payment system in 2012.
As of the 1st of February 2011 the Positive Payment Order has become law in the UK; it is a part of the Consumer Credit Directive, which was put in place to give the paying customer a better deal on their credit card. But exactly what is a Positive Payment Order?
Credit card companies have decided that credit cards with the traditional magnetic strip aren't quick enough. A new type of card is now on the market today - the contactless credit card. These are designed to allow the cardholder to make quicker transactions.
Almost everyone these days uses a credit card on practically a daily basis. What many people don't know is that there is a type of credit card that will reward you for doing so along the way. This type of credit card is appropriately known as a rewards card.
The popularity of purchasing goods online has risen massively over the last ten years. Most websites offer the function to pay via debit or credit card, which is what the majority of online shoppers do. Whilst this is a quick and easy method of payment, it also provides fraudsters and other criminals with opportunities to steal your card details and, in turn, steal your money.
There is a way for consumers to get some financial protection through their credit card company. A little piece of legislation that until recently has been widely unknown (and hushed up by the banks) is section 75 of the 1974 Consumer Credit Act. The Act states that if something goes wrong with a purchase made on a credit card, the credit card issuer is liable.
In the UK, recent years have seen high levels of credit card fraud. Despite the claimed security credit cards provide, criminals have been- and still are - accessing the credit card accounts of others by stealing their bank details. This being a major problem, financial companies have been doing all they can to reduce the risk of credit card fraud.
There is such a wide variety of bank cards on the market today, it is no wonder the nation is confused as to which does what. From credit cards to debit cards and rewards cards to charity cards - the list is endless. And now, there is another type of card to add the mix: the store card.