Credit card limit

dmelling

I paid the deposit (£204) for a holiday on my Asda Mastercard. The card has a spend limit of £1000. If the holiday firm went bust, would the whole cost of my holiday (£2200) be covered, even though it's above the credit limit?

seeya23

dmelling wrote: »

I paid the deposit (£204) for a holiday on my Asda Mastercard. The card has a spend limit of £1000. If the holiday firm went bust, would the whole cost of my holiday (£2200) be covered, even though it's above the credit limit?

no just the £204

Daisy_Duck

dmelling wrote: »

I paid the deposit (£204) for a holiday on my Asda Mastercard. The card has a spend limit of £1000. If the holiday firm went bust, would the whole cost of my holiday (£2200) be covered, even though it's above the credit limit?

My understanding is that it would all be covered... have a read here...

http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases#deposit

dmelling

Thanks both, now I'm REALLY confused!! Reading the site, it seems like I WOULD be covered, but with the limit of £1000 spend, I wasn't sure. More answers please if any one knows....

nzseries1

seeya23 is wrong. The whole amount will be covered.

david39

I think the explanation on the web page suggested by Daisy Duck is quite straight forward. If you have paid more than £100 with the credit card, then the whole holiday cost is covered.

However - I don't think that the whole of the holiday cost would be covered if you hadn't paid the balance before the company went bust. You would only be compensated for what you had lost, not what you might have lost.

dmelling

Thank you all for the quick replies. I don't want to pay for the whole holiday by credit card as there's a 2% charge, but it looks like it will all be covered, just in case the worst happens.