When a credit card is not secure! (yeah, I'm thinking the same thing)

benjilloyd

It's simple. I use a credit card for protection.

Example1: The goods aren't what was advertised, I can get my money back under the consumer credit agreement
Example2: I didn't purchase the goods (an unknown item on my credit card), I dispute it, the credit card company are then liable to investigate and recover the money - ie: I don't pay for what I didn't buy!

So why is it that:

a) Tesco want me to "sign-up" for their "secure card" when I already have one of their credit cards??
b) HSBC want me to sign-up for "Card Guard"?

Surely my credit cards are already secure, even when purchasing on-line?

The TESCO "secure card" protects me when buying online! Huh I am already protected surely!

"Card Guard" apparently pays for transactions on my card that I didn't make should I lose the card. Time was it was unlimited but they have recently capped it to something like £1000 - surely if I lose any card, and as soon as I realise I have lost it have the card stopped, anything that I didn't purchase I shouldn't pay for even if I don't have "Card Guard" - surely it is up to the credit card company to ensure that no-one else but me can authorise purchases (as long as I show reasonable caution, ie: I don't give my card to a thief ... !).

Am I missing something or am I right in thinking all these extra "features" a complete rip off selling us stuff we already get by default? (ok so card guard does help you get new replacement cards etc which is ok if you want to pay for that feature)

ben.

M_Thomson

benjilloyd wrote:

It's simple. I use a credit card for protection.

Example1: The goods aren't what was advertised, I can get my money back under the consumer credit agreement
Example2: I didn't purchase the goods (an unknown item on my credit card), I dispute it, the credit card company are then liable to investigate and recover the money - ie: I don't pay for what I didn't buy!

So why is it that:

a) Tesco want me to "sign-up" for their "secure card" when I already have one of their credit cards??
b) HSBC want me to sign-up for "Card Guard"?

Surely my credit cards are already secure, even when purchasing on-line?

The TESCO "secure card" protects me when buying online! Huh I am already protected surely!

"Card Guard" apparently pays for transactions on my card that I didn't make should I lose the card. Time was it was unlimited but they have recently capped it to something like £1000 - surely if I lose any card, and as soon as I realise I have lost it have the card stopped, anything that I didn't purchase I shouldn't pay for even if I don't have "Card Guard" - surely it is up to the credit card company to ensure that no-one else but me can authorise purchases (as long as I show reasonable caution, ie: I don't give my card to a thief ... !).

Am I missing something or am I right in thinking all these extra "features" a complete rip off selling us stuff we already get by default? (ok so card guard does help you get new replacement cards etc which is ok if you want to pay for that feature)

ben.

Yes, the protection these cards tout is nothing more than what other cards offer. These kind of things are dreamt up in the marketing departments to try and make the cards look better than they are.

benjilloyd

So even though Tescos say that I can "convert to a more secure card" I am still covered to the same degree with their standard card - here I mean by sticking to the same principles I did in my original post: you don't pay for what you didn't buy.

I am sure there are "benefits" that could be quoted if I do move to the "more secure" card but I am guessing these will be things that actually protect the card issuer rather than me, perhaps like registering delivery addresses and things like that.

Equally, if I don't have "Card Guard" and lose my card and someone racks up £5000 worth of spends surely I won't have to pay for them?

ben.

M_Thomson

benjilloyd wrote:

Equally, if I don't have "Card Guard" and lose my card and someone racks up £5000 worth of spends surely I won't have to pay for them?

ben.

No you won't.