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Football Bazaar |
...the
webs largest football mall |
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Online
Shopping Guide
...Payments
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What's Safest: Credit Cards, Debit Cards, Cash, or Cheques?
The safest way to pay when shopping on the Internet is with a credit
card. E-commerce shopping by cheque leaves you vulnerable to bank
fraud, and sending a bankers draft, postal order or wired transfer
doesn't give you any protection if you have problems with the
purchase. Make sure your credit card is a true credit card and not
a debit card, a cheque guarantee card, or an ATM card. As with a
debit card, the information found on it exposes your bank account
number and sort code to thieves. Your bank account could be wiped
out in minutes. Further, debit and ATM cards are not protected by
Consumer Credit Act to the extent that credit cards are.
If
the goods or services you are buying cost over £100 and you pay by
credit card, you may be protected by the Consumer Credit Act.
You have the right to dispute charges on your credit card, and you
can withhold payments during a creditor investigation. When it has
been determined that your credit was used without authorisation,
your
credit card company will be equally liable. Therefore, should a
problem arise, you can claim either from the merchant or from the
credit card company. Note that for this protection to apply, the
contract price must be over £100. For example, if you buy a
complete Adidas training suit, the Adidas jacket of which costs £55,
the Adidas T-shirt that cost £20 and the Adidas tracksuit that cost
£40, you would have protection. However, if you bought the items
separately instead of as one suit, you would not be afforded the
same protection as neither of the items amount to £100.
Other benefits of paying by credit cards
Credit cards can actually save you money if and when used properly,
as long as you pay it off in full when the bill arrives. If you pay
using your credit card rather than paying immediately (using switch
or debit card), you will have the money in your bank account,
earning interest, until your credit card bill for those payments
comes due. Remember that if you pay only the required minimum
amount and leave the balance unpaid, you will have to pay interest
(which will be called "finance charge" on your bill). Also note
that if you keep paying only the minimum amount each month, you will
be paying a lot of interest over many years. Some credit card
issuers grant you extended warranties, reward points and/or other
advantages for purchases made with the card.
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