Split purchase cost on two credit cards

SteveJW

Going to purchase a new to me car tomorrow
Plan to pay most of it on a credit card to give the additional protection
My intention was to pay say £500 on a Halifax card, no interest free period and paying normal APR
Pay £3,000 on a new Santander card with 0% on balance transfers and interest free for 15 months
The remainder to be paid by debit card
Transfer the Halifax £500 to the Santander card before payment is due
My reasoning is I get the protection of two credit cards. Is their anything I am missing, could the two credit card companies argue between themselves if I have any problems with the car and claim under Section 75


Thanks in anticipation


Steve

CLAPTON

SteveJW wrote: »

Going to purchase a new to me car tomorrow
Plan to pay most of it on a credit card to give the additional protection
My intention was to pay say £500 on a Halifax card, no interest free period and paying normal APR
Pay £3,000 on a new Santander card with 0% on balance transfers and interest free for 15 months
The remainder to be paid by debit card
Transfer the Halifax £500 to the Santander card before payment is due
My reasoning is I get the protection of two credit cards. Is their anything I am missing, could the two credit card companies argue between themselves if I have any problems with the car and claim under Section 75


Thanks in anticipation


Steve

I'm not sure what you mean

-will the dealership allow payment by credit card without a charge?

-why are you using a Halifax card without an interest free period

-why use a Santander 0% BT card when you are making a purchase?

YorkshireBoy

1. Most likely the £500 deposit would be taken fee-free on a credit card, but the £3K would incur a fee. This will likely be circa 3%...and if it they do it fee-free there was another 3% discount to be had for cash!


2. To 'double up' on section 75 protection.


3. That particular Santander card also has 15 months 0% on purchases. OP just didn't describe it clearly.


OP, you would have a like claim on all 3 parties to the purchase (but obviously couldn't claim the full amount from each should things go wrong!).

Waldir

More details on double-insurance there: http://www.gocompare.com/travel-insurance/double-cover/

grumbler

It's not an *insurance*.

InsideInsurance

SteveJW wrote: »

Plan to pay most of it on a credit card to give the additional protection

You only need to pay £0.01 on credit card to get S75 protection as long as the total price is over £100.

Most motor companies will charge card fees to pay any more than the deposit on a credit card and so little point in paying extra fees unless its your cheapest way to access credit and you cannot otherwise afford the car.

There is little point having two sets of S75 protection unless you believe one of the banks is on the brink of failing - your on your own currently if this is the case.