Credit card providers appeal against Lords ruling

Credit card providers are appearing in the House of Lords to appeal against a ruling which would give consumers the same protection when using their credit cards abroad as they get in the UK.

The Consumer Credit Act proposes that the same cover applies when Brits buy damaged goods abroad as at home.

Current regulations state that credit card holders in Britain are covered on goods worth anywhere between £100 and £30,000.

Eric Leenders of the British Bankers’ Association told the BBC: "Clearly it is far more difficult for the lender, who can obtain redress in turn from the supplier, on the borrower’s behalf effectively, to do that overseas."

The Office of Fair Trading (OFT) and the Court of Appeal brought the hearing, which is expected to last three days.

Banks’ pricing structures are currently being investigated by the OFT in a comprehensive study, due to be published by the end of the year.