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Credit cards: no volcano refund?

Britons who've been spending on credit cards during extended holidays, thrust upon them by the Icelandic volcano, may be in for a nasty surprise when they get home.

Many believe that their travel insurance will cover their extra costs. Failing that, it was thought that credit card companies would refund customers due to breach of contract by the airlines.

However, there are now concerns that if it is decided the losses are due to 'exceptional' or 'act of God' circumstances, consumers will lose out.

This is because the airlines would not be in breach of contract and the UK Cards Association argues that the industry would not have to pay out as a result.

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