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!
Getting round CC fees
ANGLICANPAT
Posts: 1,455 Forumite
in Credit cards
Sorry if this has been asked before, I dont generally use this forum .
Im after double glazing , and as advised on MSE , Im wanting to use my CC to give added protection in case the small local firm Ive chosen, go bust etc
Would it work and am I being unreasonable if I ask the retailer to allow me to pay £30 on my CC (to secure the protection) , and the £700 balance in cash ?
Im after double glazing , and as advised on MSE , Im wanting to use my CC to give added protection in case the small local firm Ive chosen, go bust etc
Would it work and am I being unreasonable if I ask the retailer to allow me to pay £30 on my CC (to secure the protection) , and the £700 balance in cash ?
0
Comments
-
Do they accept credit cards?0
-
If they do, your proposal will work (in terms of securing section 75 protection)...and be 'reasonable' in my opinion. Subject, of course, to there being a direct D-C-S relationship...ie no middle man!Deleted_User wrote: »Do they accept credit cards?0 -
Sorry, yes they do, I should have clarified that. Thanks, well Ill give it a go and see what they say . As far as Ive read , It costs retail companies less than 2% to accept my CC, so in asking for 3% they are getting 1% extra of my product cost, extra ,for nothing , so in granting my request I guess they will be losing out a bit0
-
Pricing will be based on volume of transactions I'd imagine (economies of scale). Tesco, Asda, etc will pay very little. High street stores a bit more. And double glazing firms might indeed pay a good bit more.
These days none of them are allowed to make a profit on the fees they're charged, but they are allowed to include ALL costs associated with collecting payments this way...not just the 'per transaction' %.0 -
ANGLICANPAT wrote: »It costs retail companies less than 2% to accept my CC, so in asking for 3% they are getting 1% extra of my product cost, extra ,for nothing , so in granting my request I guess they will be losing out a bit
It costs merchants a percentage, the actual percentage they are charged varies massively from large companies paying less than 0.5% to some high risk businesses paying >5%
The average for SMEs is probably 2-3% but of cause that is just the bank fees for the transaction itself. Companies can also build in the cost of renting the card machine, staff training etc0 -
ANGLICANPAT wrote: »Sorry if this has been asked before, I dont generally use this forum .
Im after double glazing , and as advised on MSE , Im wanting to use my CC to give added protection in case the small local firm Ive chosen, go bust etc
Would it work and am I being unreasonable if I ask the retailer to allow me to pay £30 on my CC (to secure the protection) , and the £700 balance in cash ?
If it's a small company, I would be surprised if they don't offer an independently backed guarantee as standard.
If they don't that should be setting alarm bells ringing!
Whilst S75 may offer an alternative avenue to claim against should the vendor no longer be around later, the best you could ever get back is the £730 contract price, which may not really help if all the windows have fallen out and it'll cost you £4k to get a proper company round to fix them.
Read the terms of the guarantee offered carefully, but most will guarantee to get the windows repaired if the vendor can't/won't0 -
Does S75 have a minimum spend (£100?) I know it has a maximum of £30,000 of cover
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
Does S75 have a minimum spend (£100?) I know it has a maximum of £30,000 of cover
The item being purchased must cost more than £100, but you don't have to spend that amount on the CC, a deposit of £30 (or whatever) still gives you protection under S75.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Ah great thanks Tixy
Going to do that for a car purchase so good to hear it's item value not minimum spend
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
Whilst S75 may offer an alternative avenue to claim against should the vendor no longer be around later, the best you could ever get back is the £730 contract price, which may not really help if all the windows have fallen out and it'll cost you £4k to get a proper company round to fix them.
Wrong.
Under S75 you can claim full damages or breach of contract - which can be far in excess of the contract price and even more in excess of what you actually put on the card.
But I agree you'd also want a separately backed warranty (FENSA or whatever).0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards