A finance expert on BBC Morning Live recently warned viewers about the risks associated with using credit cards on popular shopping sites like Amazon and eBay as well as on holiday booking platforms such as Booking.com and Hotels.com. Iona Bain highlighted that many consumers are unaware of a key aspect of the Consumer Credit Act, specifically Section 75, which provides protection for purchases between £100 and £30,000. If a purchase goes wrong—be it a faulty item, substandard service, or the supplier going out of business—customers may be entitled to protection under this law.

Bain emphasized that when customers make these purchases using a credit card, they should ensure they are aware of the potential implications. The Section 75 protection allows customers to claim refunds or compensation directly from the credit card provider if the supplier fails to fulfill their obligations. However, Bain pointed out that some consumers might overlook this important detail, which can lead to financial difficulties if issues arise with their purchases.

The discussion serves as a crucial reminder for consumers to understand their rights when making online purchases and the significance of using credit cards responsibly. With the increasing trend of online shopping, it is imperative for individuals to be informed about these protections to safeguard their investments effectively and avoid unexpected financial pitfalls.