Credit card purchase protection

[mikew]

Out of touch with these now, i have one tied to my PayPal which i only use for a few small purchases to keep it going.

Looking to buy two replacement mobility scooters on line in the next couple of months about £1700 each, it will be a case of the company wanting payment in advance, will the credit card purchase cover me if the company goes bankrupt before i get them.
Will i need to wait before paying it off to be covered or can i pay it the first time it shows on my statement

thanks

 

[Gremlin]

This might help, but I have never had a company take the full amount before dispatching anything,
most have just asked for a deposit, the balance due when the item is ready, but that was a while ago so things may have
changed

Credit Card Protection | MoneySuperMarket

Paying for goods and services with a credit card offers protection if something goes wrong with your purchase. Under Section 75 of consumer credit law you can claim money back – for items between £100 and £30,000. Our guide explains more.

www.moneysupermarket.com

This paragraph should help

Why do credit cards offer this protection?
Under section 75 of the Consumer Credit Act, you’re covered if you use your credit card to buy something such as a computer, an item of furniture or a holiday that costs over £100 and up to £30,000.

This means the credit card company has equal responsibility (or ‘liability’) with the seller if there’s a problem with the things you’ve bought or the company you’ve bought them from goes bust.

Debit cards don’t offer this protection, which is one reason why it can be a good idea to pay for items with your credit card instead.

However, it’s important to remember that if you do make a purchase on a credit card, you’re likely to be charged interest so be sure to pay back what you owe to minimise the amount charged.

 

[mikew]

This might help, but I have never had a company take the full amount before dispatching anything,
most have just asked for a deposit, the balance due when the item is ready, but that was a while ago so things may have
changed

Credit Card Protection | MoneySuperMarket

Paying for goods and services with a credit card offers protection if something goes wrong with your purchase. Under Section 75 of consumer credit law you can claim money back – for items between £100 and £30,000. Our guide explains more.

www.moneysupermarket.com

This paragraph should help

Why do credit cards offer this protection?
Under section 75 of the Consumer Credit Act, you’re covered if you use your credit card to buy something such as a computer, an item of furniture or a holiday that costs over £100 and up to £30,000.

This means the credit card company has equal responsibility (or ‘liability’) with the seller if there’s a problem with the things you’ve bought or the company you’ve bought them from goes bust.

Debit cards don’t offer this protection, which is one reason why it can be a good idea to pay for items with your credit card instead.

However, it’s important to remember that if you do make a purchase on a credit card, you’re likely to be charged interest so be sure to pay back what you owe to minimise the amount charged.

Thanks that looks like the answer

 

[Craig1912]

Yes you will be covered if the company go bust and you can pay it the first time it shows on your statement. I always pay on a credit card for anything over £100.

 

[jonbeeza]

This might help, but I have never had a company take the full amount before dispatching anything....

I do recall when I bought a Motabilty scooter, I had to pay the full amount before they delivered it. This was on my card, and it was a good few years ago.

 

[mikew]

I do recall when I bought a Motabilty scooter, I had to pay the full amount before they delivered it. This was on my card, and it was a good few years ago.

Thanks, most say its due to them having to road register them to the purchaser

 

[Gremlin]

I do recall when I bought a Motabilty scooter, I had to pay the full amount before they delivered it. This was on my card, and it was a good few years ago.

This was furniture from a well known store, nearly £3,000, the salesman actually told me not to pay the full amount in case they went bust,
I said you are joking, that's not likely to happen, shortly later one of their main competitors did go into liquidation leaving many customers without their money or furniture.
But as I said, things may have changed

 

[jonbeeza]

This was furniture from a well known store, nearly £3,000, the salesman actually told me not to pay the full amount in case they went bust,
I said you are joking, that's not likely to happen, shortly later one of their main competitors did go into liquidation leaving many customers without their money or furniture.
But as I said, things may have changed

I used to often buy things as COD (cash on delivery), but I have not seen that offered anywhere nowadays. Things are changing all the time, and I hate paying for things upfront, as you just don't know anymore.

I remember trying to buy a VHS recorder and TV I think it was from Colourvision TV shop. They said they did not carry stock, but wanted me to pay up front, and they would deliver in a week or two. I said no as what if you close down, he laughed and said, "we have been going for years, and we are not going anywhere". A week later they went out of business.

Now that was going back a very good few years ago.

PS

I think it was Colourvision, or it may have been the other popular TV shop, just can't recall the name.

 

[eoSimon]

if you are using paypal you don’t necessarily have the same protection as buying with a credit card - paypal is paying the retailer and you are using credit card to pay paypal. Although paypal might help that is not the same as CCA and s.75. Do some research if this is a concern for you
.

 

[troutfisher]

Just make sure you know the CC Company payment /statement dates and buy the items on or just after that date.
By doing it that way you get the benefit of about 7 weeks interest free credit and more significantly you have that period to get your delivery.

 

[stickytape]

Just make sure you know the CC Company payment /statement dates and buy the items on or just after that date.
By doing it that way you get the benefit of about 7 weeks interest free credit and more significantly you have that period to get your delivery.

Plump for one of the 0 percent ones and then you've got extra time too!

 

[AgentOrange76]

0% only applies to a balance transferred from another card not anything you purchase on the card. You would need to purchase it then with in the month transfer the balance to the new card.

 

[Craig1912]

0% only applies to a balance transferred from another card not anything you purchase on the card. You would need to purchase it then with in the month transfer the balance to the new card.

Nope that’s wrong-there are plenty of 0% cards for purchases

Best 0% credit cards

If you spend on cards but don't repay in full, try interest-free credit cards up to 20 months. See Martin Lewis' top picks on 0% credit cards.

www.moneysavingexpert.com

 

[tijuana taxi]

Just pay the balance off and its always 0%

CC companies are getting a lot tighter on those who just make a small or minimum payment each month.
Presumably too many people have run up debts during the recent crisis that they fear may never be repaid.