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Section 75
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StevieJ
Posts: 20,174 Forumite
in Credit cards
I was just reading a current article on the Motley Fool and they stated that section 75 protection is in place even if only part of a payment was made by credit card.
If this is true does that mean we only have to pay the deposit for a holiday to be covered by section 75, i.e. if a holiday company goes bust and I have paid 10% deposit on credit card and the rest by cheque will I be able to recover the full holiday balance from my credit card provider? I generally like to pay by credit card because of the protection offered but they often charge 2% for the priviledge.
Grateful if some legal eagle could clarify this.
If this is true does that mean we only have to pay the deposit for a holiday to be covered by section 75, i.e. if a holiday company goes bust and I have paid 10% deposit on credit card and the rest by cheque will I be able to recover the full holiday balance from my credit card provider? I generally like to pay by credit card because of the protection offered but they often charge 2% for the priviledge.
Grateful if some legal eagle could clarify this.
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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At it's extreme, you can pay a £1 credit card deposit on a £100+ holiday and still enjoy full protection.
http://www.oft.gov.uk/news/press/2004/186-040 -
Thanks for that YB, as a clarification from your link I think foreign transactions are now included.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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