Consumers opt for security in choosing credit cards

Tesco Personal Finance has released a survey saying that most people choose a credit card based on its security features.

12:42 17 August 2005

With incidents of fraud on the up, more than three quarters of Britons are choosing their credit card based on its security features rather than the APR it offers.

Faced with a choice of cards with similar rates, 79 per cent of people would go for the one with the most obvious security features, according to research conducted by Tesco Personal Finance.

It is hardly surprising that security has become such an issue, since 25 per cent of cardholders have had their card lost or stolen.

"Credit card security is a very real concern for many," said Alistair Smillie, head of Tesco Credit Card.

"Our study shows that people want a clear understanding of the protection they have from their provider," he added.

Whilst recognising the need for companies to offer their customers this protection against fraud or theft, Mr Smilie also points out clients' own responsibilities.

"In order to ensure [that fraudsters] don't gain any ground we need customers to play their part by taking sensible precautions to protect themselves."