Consumer Protection

RayWolfe

Can anyone help to guide me in the following scenario?
I need to get some consumer protection act protection for a major purchase. The amount is over my credit limit but I have the cash for the purchase. Can I preload my credit card by making a transfer and then use the credit card up to my credit limit + preloading for the purchase?
This would give me protection and cash back which I wouldn't get if I paid using my debit card.
Any thoughts? Thanks.

izools

Consumer Protection (Distance Selling) 2000 regulations offer consumer protection but has nothing whatsoever to do with credit cards.

Do you mean Section 75 CCA1974 protection (I assume so given your wording)? If so, you will need to check with your card provider if they permit putting the account into credit. They may not want to, and don't have to, cover you under S.75 of the Consumer Credit Act for a penny more than your total credit limit. You'd better ask them first

RayWolfe

Yes, Section 75 was my thought.
I did ask this afternoon and was given the comment:
"I couldn't possibly suggest preloading your credit card" but then went on to tell me a payment would bounce if it were over my credit limit ... intriguingly, he then told me to get the supplier to take two payments within my limit ...
So I think he was saying yes but couldn't be explicit!
Thanks for your thoughts.

dylanuk

You don't need to 'preload' your credit card.

If you're talking about Section 75 then you only need to pay an amount of the total cost on your credit card to get the full amount covered.

So pay £10 on your credit card and then pay the rest as cash and you'll get the same level of Section 75 protection as if you paid for the full amount on credit card.

Check out the following guides for your own peace of mind on doing this:
http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases#deposit
http://www.choose.net/money/guide/articles/credit-cards/section-75-of-the-consumer-credit-act-guide.html
http://www.credit-card-comparison-online.co.uk/articles/section-75-purchase-protection-cover.html

RayWolfe

Thanks, that confirms something I had deep in the back of my mind but couldn't find out about even though I have been looking on-line all afternoon ... I thought GOOGLE was my friend, I now know better!
If only I had concentrated my search here, it would have saved me a lot of effort and I would know what the blooming meerkat means when he says "simples".
Thanks again.

dylanuk

blooming meerkat means when he says "simples".

That's just so bizarre... you know this site is "Money Saving Expert" and not "Compare the Market[Meerkat]" right?!