March 15, 2006

With all the recent news about the fight against credit card fraud and the dire warnings that are the cause of all evil when it comes to debt, it is very refreshing to find some good news related to the use of.

Recent research from Capital One, the US credit card giant, have found that on many occasions the use of has saved many consumers from sticky situations. It was found that over 3.4 million credit card holders have been “saved” by using their credit card whilst overseas. At the same time over 4.8 million UK credit card holders have been helped while in the country.

Most offer outstanding protection while you are abroad. If you you lose your purse or wallet while on holiday, your credit card company will step in and save the day, helping you with emergency legal advice, medical assistance and even a local interpreter. Some offer emergency cash  in the event of you losing or have your wallet/purse stolen or lost.

A few years ago a number of high profile furniture stores went bust. Many unfortunate people who had paid cash for furniture in advance where left out of pocket and without the furniture they had ordered. The lucky ones who had paid by using their credit card got their money back by using the credit card company’s dispute process.

Next time you see a story slating credit card use just remember that many people find having a credit in their possesion just as important as a photo of a loved one!