AS the nation get set for the busiest shopping days of the year, shoppers are being urged to get savvy on credit card purchases with research showing millions of pounds in valid refunds are not being given by credit card providers through the Section 75 protection

• Section 75 Protection is a law passed in 1974 which stipulates that credit card providers must take the same level of responsibility as the retailer if something goes wrong with a purchase or the retailer goes bust.

• But the study shows that almost quarter (23%) of all claims have been rejected in the last three years alone

• With consumers set to spend a total £10 billion on their credit cards this December what should you do if something goes wrong?

As we head towards the UKs busiest shopping days of the year, new research reveals that Black Friday and Cyber Monday credit card shoppers could be left feeling disappointed if they take reassurance in the fact that section 75 credit card protection will provide a refund in the event of things going wrong with their purchases.

In fact, new research from money.co.uk reveals that over the last three years, just over one in five (21%) of the UKs 30 million credit card customers have made a claim under Section 75 of the 1974 Consumer Credit Act, but almost a quarter (23%) of claims were declined by credit card providers.

Section 75 Protection is a law passed in 1974 which stipulates that credit card providers must take the same level of responsibility as the retailer if something goes wrong with a purchase or the retailer goes bust.

This will cover consumers for credit card purchases for between £100 and £30,000 for anything from flights, cars, electrical items, clothing etc, even if the credit card account has been closed post-purchase.

Despite reaching its 40th birthday this year, 11 million credit card holders (37%) do not know that their credit card provider is legally obliged to reimburse them if things go wrong with a £100+ item that they've paid for on the card.

In fact, only 7% of credit card holders correctly cited that Section 75 is free protection from credit card providers for purchases between £100 and £30,000.

When it comes to understanding how the protection actually works, 6% believe it only comes with credit cards that levy a fee and a further 6% believe it's an insurance that credit card holders must pay for.

Almost one in four (23%) simply don't know what Section 75 protection is.

Section 75 should be top of the list for credit card holders if a supplier or retailer goes out of business, goods or services purchased are not as described, they're faulty or fail to arrive, or in the event of any other breach of contract, as it's an alternative way of securing refunds for goods or services paid for by credit card that individually cost more than £100.

However, two million credit card holders would be happy to sit back and do nothing in this instance, accepting that they'd lost the money as they 'can't be bothered with the admin'.

Almost one million would opt to put the problematic item on an auction website instead.