Monthly payment via credit card? 30 January 2015 at 9:39PM edited 30 November -1 at 1:00AM in Credit Cards 2 replies 762 views

thrashx

Hi all,
I purchased a new car a few weeks ago, I part exchanged my car as a deposit and didnt have a chance to use my credit card for the deposit.
I was wondering if it would be possible to pay for one of my monthly payments by credit card? I dont really know how it works but I thought if its set up as a direct debit you cant technically pay with a credit card as its not coming from a bank account?
If I were to do this would I still be protected under section 75?

grumbler

thrashx wrote: »

Hi all,
I purchased a new car a few weeks ago, I part exchanged my car as a deposit and didnt have a chance to use my credit card for the deposit.
I was wondering if it would be possible to pay for one of my monthly payments by credit card?

This depends on whether the lender accepts CC payments or not. Most likely, it doesn't.

I dont really know how it works but I thought if its set up as a direct debit you cant technically pay with a credit card as its not coming from a bank account?

What doesn't come from a bank account? A DD does. And no, DDs are for current accounts only and are based on the account number and the sort code.
A similar arrangement for credit/debit card payments is called Continuous Payment Authority (CPA) and is based on the card number.

If I were to do this would I still be protected under section 75?

No, but your are already protected as you used credit to buy it. Your loan company is liable under s75.

guesswho2000

grumbler wrote: »

...Your loan company is liable under s75.

Unless OP paid over £30k for the car...they did state that it was new :P