Credit card security is prime concern

Tesco Personal Finance has found that consumers are now placing as much importance on the security features of credit cards as the APR.

This heightened consumer awareness does not come unfounded, as 14 per cent of those surveyed said they have had their card used fraudulently, and a quarter said they had had their card lost or stolen.

Alistair Smillie, head of Tesco credit card, said: "Our study shows that people want a clear understanding of the protection they have from their provider. It's up to credit card companies to do all they can, to meet their customers’ expectations."

However, while credit card suppliers agree they should do their utmost to make cards secure, the public also feel that they should take responsibility and be careful with their cards.

Mr Smillie concludes: "Consumers now want to know that when they sign up for a new credit card they are also signing up for protection should things go wrong. We are taking every step we can and we would encourage customers to do the same."