We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit card protection
Parus_major
Posts: 21 Forumite
in Credit cards
Quick question....
Extra protection offered by a credit card purchase is well known I feel (but not necessarily all the details) ...
We (that will be myself and her in doors), are in the process of purchasing a new car. We placed a deposit yesterday on our credit card. We had previously withdrawn a substantial amount of cash as we were going to purchase a second hand vehicle using cash.
Q.
Should we put the cash back in our account and pay the full balance on our credit card OR would you pay half in cash and the rest on the credit card?
NB we intend to clear the credit card statement before we incur interest.
Seems a no brainer to me … the former choice, cos I recon if things go tits up you would only be protected on the amount you spent through the credit card and the cash portion could be ‘lost’?
Unless you know otherwise?
Extra protection offered by a credit card purchase is well known I feel (but not necessarily all the details) ...
We (that will be myself and her in doors), are in the process of purchasing a new car. We placed a deposit yesterday on our credit card. We had previously withdrawn a substantial amount of cash as we were going to purchase a second hand vehicle using cash.
Q.
Should we put the cash back in our account and pay the full balance on our credit card OR would you pay half in cash and the rest on the credit card?
NB we intend to clear the credit card statement before we incur interest.
Seems a no brainer to me … the former choice, cos I recon if things go tits up you would only be protected on the amount you spent through the credit card and the cash portion could be ‘lost’?
Unless you know otherwise?
0
Comments
-
Not so. Transactions over £100 are fully protected by Section 75I reckon if things go tits up you would only be protected on the amount you spent through the credit card and the cash portion could be lost.
For more info', see Martin's article on *Section 75 Refunds*
https://www.moneysavingexpert.com/shopping/section75-protect-your-purchases
Note: some car dealers do not accept credit cards or charge a premium for their use.People who don't know their rights, don't actually have those rights.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards