Who is right? St Martin or Barclaycard?

sarahpenny

Hi. In the News of the World ( I think) on Sunday, Martin had done a piece stating that a credit card company is liable for the whole deposit on something even if you only pay 10p on a c/c. I.e, if you buy a £3000 tv (as if!!) and pay just 10p on your c/c, then the company goes bust before delivery, the card company is liable for the whole £3000. But I have just phoned Barclaycard who said that is NOT true, the card company would only be liable for the 10p!
Confused?? I am!!

YorkshireBoy

sarahpenny wrote: »

...I have just phoned Barclaycard

You may have phoned Barclaycard, but you spoke to an ill-informed Barclaycard CSA.

You do only need to pay a deposit on the card to ensure full joint and several protection on the full purchase price under section 75 of the CCA (subject to certain conditions).

zzzLazyDaisy

I always understood that the minimum deposit had to be £100, I wonder if the 10p is a misprint?

YorkshireBoy

zzzLazyDaisy wrote: »

I always understood that the minimum deposit had to be £100, I wonder if the 10p is a misprint?

Purchase price of the goods or services needs to be between £100 and £30,000
Deposit can be any amount...even less than £100

sarahpenny

Thanks, Y Boy. Where can I look at a copy of Section 75 of the CCA (also, sorry, what is the CCA?) and do you know what the 'certain conditions' are? I would like to read it and ring Barclaycard back!

YorkshireBoy

http://www.oft.gov.uk/news/press/2004/186-04

The £25,000 figure mentioned in this old document may now be £30,000.

CCA = Consumer Credit Act

See also the OFT, FOS, & OPSI.gov (for the Act itself) websites

sarahpenny

Thank you, I will look at the websites you suggest. When I feel strong, anyway!