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Cooling Off Period, Have I got one?

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Bought a 3 piece suite on a credit card from a national retailer and the following day realised I'd be unable to access the my wall unit as the chair doesn't have wheels on.

Phoned the store and they have offered to cancel the order but will charge me £500 for my error. They'll be in touch in 4 weeks or so to see if I want to spend it on another suite in thier store

Thought I'd heard some where about a cooling off period

Can someone advise please :confused:
Am I a blonde or redhead, I'm :confused:. Neither, I'm both at once :eek:
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