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Credit card limit

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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?

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  • seeya23
    seeya23 Posts: 2,330 Forumite
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    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
    Daisy_Duck Posts: 1,535 Forumite
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    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
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    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
    nzseries1 Posts: 2,240 Forumite
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    seeya23 is wrong. The whole amount will be covered.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • david39
    david39 Posts: 1,968 Forumite
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    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
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    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.
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