Purchase Protection - theft of purchases

James-H_4

This week, I discovered that my bike had been stolen. I had only bought it in June, so I wondered if it was covered under my credit card's purchase protection.

I Googled it and found an article on MSE ("Credit Card Perks"), that says:

Many credit cards offer a purchase protection system, meaning if you buy goods on the card and it is lost or stolen within a set time – usually about 90 days – you can get the money back from the credit card company.

Martin even used the example that he too had his new bike stolen and managed to claim for it under purchase protection.

This section of the article goes on to specifically mention Barclaycard (my provider) as one that offers this.

So, I phoned Barclaycard to ask them if I could claim and the person I spoke to didn't seem to understand what I was asking. After speaking to his supervisor, he came back and told me all they can do is to refund me if a purchase never turned up or was defective.

Not convinced that the person on the phone really understood my query, I emailed Barclaycard, who said the following:

Credit card companies are third party only to any debiting authority made between their cardholders and a company/merchant. As a credit card is a guaranteed method of payment, credit card regulations stipulate that the card issuer has no direct authority to initially stop, cancel or refund any guaranteed payment made between the two parties.

We as a bank can only dispute a transactions in situations where the merchant is at fault or where he is unable to supply the good or services. However, here as the services or goods were supplied by the merchant.

This seems like a canned response to me. So, given that the MSE article says "Correct at June 2014" - am I just being unlucky with Barclaycard customer services? Or, is the article wrong/out of date?

Does anyone else have experience in claiming for stolen purchases from a credit card company, especially Barclaycard?

PasturesNew

It's not for all cards... just special ones. e.g. the Business Barclaycard, the Gold and Platinum Worldmiles cards - and even on these last two it's at their discretion.

chattychappy

None of my (several) credit cards have purchase protection.

PeacefulWaters

I'm not aware of any new cards that offer it, although a fair number have offered such cover on and off over the last twenty years or so. I think my old Egg card had it, but that's now a Barclaycard and I think they've recently removed the cover.

Given the nation's love of mis-selling claims I don't blame the credit card industry for sidelining a packaged insurance such as this.

Is you bike not covered by your contents insurance?

grumbler

PeacefulWaters wrote: »

I'm not aware of any new cards that offer it, ...

• Protect purchases: If lost or stolen

giblet10

The Post Office credit card is the only one of my cards that offers 90 day protection against loss, theft etc.

CLAPTON

some barclaycard did indeed offer this insurance; e.g. the 'world MC' which was the old egg money
however this has been replaced and the new cards don't offer this protection

time to start keeping and reading the T&Cs of one's CCs

claraman

I have just tried to claim for an item that was stolen a week after purchase and BC have said that they only offer cover for items lost in post or not delivered.

This is at odds with info posted on MSE website. Are BC being naughty or does MSE info need updating. Either way it would be good to get to the bottom of this one as MSE users may pick BC on basis of incorrect info on website.

bris

Its an optional extra that some, very few tbh offer and not a given right.

Don't get mixed up between a perk and a legal right such as S75.

InsideInsurance

claraman wrote: »

This is at odds with info posted on MSE website. Are BC being naughty or does MSE info need updating. Either way it would be good to get to the bottom of this one as MSE users may pick BC on basis of incorrect info on website.

MSE's article is misleading by saying "many" credit cards offer it. As per the table below they can only list 4 cards out of the couple of hundred out there and 3 of them are AmEx cards

Exactly which BC card do you have? Indeed the table only lists BC Freedom Rewards card

James-H_4

Mine was a Barclaycard Cashback card, launched in 2012 and withdrawn in July, replaced by the new Cashback Amex/Visa account (which, incidentally, does not include Purchase Protection).

After digging out the T&Cs for my old account, I found that it did indeed include Purchase Protection for loss, theft and accidental damage.

Even though I had that in my hand, it was still a struggle to convince BC that it really did exist. I finally got through to a senior advisor in the UK, who initially said they hadn't offered it since 2004, but then looked it up on his computer and found it. I've now submitted my claim.

I'm just glad I didn't accept their first answer!

So, if your account was a 2012-14 Barclaycard Cashback Visa, it does include purchase protection.