What is the upper limit liability for CC company

furndire

We are about to buy a very big item. I know that the credit card company is equally liable it part of it is via credit card - what is the upper limit they are liable for. Not sure how to word this question, so hopefully someone will know what I am getting at. Just going to hedge my bets just in case anything really major goes wrong.

noelphobic

http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

Pay for something costing between £100 and £30,000 on a credit card and the card issuer's equally liable if something goes wrong

furndire

Thanks - that was quick - that's idea's scuppered -over the limit.
Just to add, I've got no reason to believe anything will go wrong, but a cushion is always good.

CKhalvashi

furndire wrote: »

Thanks - that was quick - that's idea's scuppered -over the limit.
Just to add, I've got no reason to believe anything will go wrong, but a cushion is always good.

Try to take additional insurance.

I've got 3rd party liability for £100k.

CK

thenudeone

Under section 75A there is a second tier of cover for items up to £60,260, but it only applies to credit contracts taken specifically for that purchase, and not to a more general credit agreement like a card.

http://www.legislation.gov.uk/ukpga/1974/39/section/75A

The option to go after the credit provider first does not apply in this case, the customer must take reasonable step to take action against the retailer first; but it's still invaluable if the retailer simply disappears or is bust.

chattychappy

Guys, I'm abroad on a crazy connection so cannot check this.

BUT, I think there is no limit to the liability under s75. Only that the transaction value must be between £100 and £30,000. (Regardless of how much of this you put onto the card.) Provided this condition is met, the liability is unlimited.

Sometimes T+Cs restrict certain types of liability. Such restrictions are not always enforceable.

Would be grateful if anyone can doublecheck.