OFT Loses Overseas Protection Battle
High Court rules against making credit card companies give greater overseas protection
13th November 2004
The OFT (Office of Fair Trading) has lost a high court case which would have forced credit card issuers to provide greater protection for overseas purchase.
Currently, credit card companies have liability for purchases made in the UK which go wrong - if, for instance, a company goes bust and fails to deliver, the credit card company should refund the customer. The court case sought to clarify whether the same level of protection applied to purchases made from overseas suppliers.
The companies who defended the case, Lloyds TSB, American Express and Tesco Personal Finance, welcomed the decision.
Home - Credit Cards
