Credit card protection for secondary card holder-Please Advise!!

taralotti

Hello
Does anyone know if credit card can exclude a partner (secondary cardholder) from protection ?
Does section 75 exclude secondary card holders?
I used my partner's card to pay for a binary options company which was a deceptive and fraud practicing company and lied over the phone to get my money during the call.
I failed to get the money back from them and asked assistance from Barclaycard who took ages and finally said that because I was secondary holder I had no protection.
I feel this is illogical and unfair and I do not know if what they are saying is true.
Can you please advise and make any suggestions?
Thanks

PeacefulWaters

From MSE:
http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases#exceptions

If you have an additional card for a partner, child or friend and this card is used to make a payment for a item you subsequently need to claim for, you'll need to show the item/service provides some benefit to the primary cardholder to be covered.

So if it was a family car or gift for the main cardholder, this is likely to be OK. But a solo flight for the additional cardholder wouldn't be.

This isn't technically written into the legislation, but is based on a ruling (62/02) by the Financial Ombudsman in 2007.

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/62/62-consumer-credit.htm

taralotti

Thanks for your reply.
As I am not working and the money belonged and paid by primary card holder, isn't this proof that any loss or benefit would impact the primary cardholder (partner)?

pvt

taralotti wrote: »

Thanks for your reply.
As I am not working and the money belonged and paid by primary card holder, isn't this proof that any loss or benefit would impact the primary cardholder (partner)?

No..........

[Deleted User]

Binary as in trading/betting?

How were they deceptive? Do you have any proof at all of this?

Curious as to how you'd claim for S75 even if you were eligible - could you not just try a straight claim for a fraudulent payment from the account, which you would be able to at least try and claim (or Cardholder will put the claim in)

InsideInsurance

Chargebacks are eligible on any card

S75 is only eligible if you can show an absolute benefit of the purchase to the account holder

Any other non-statutory "buyer protection" the card issuer may offer would be down to their individual T&Cs

taralotti

They called me and lied claiming they were regulated, professional, etc and that this investment would double via expert autotrading etc
All was manipulation and unfortunately I gave in and agreed to give my card details over the phone. Soon it became obvious that this machine was there to lose money not make money for you. I asked them to stop it and return my money back but they pretended not to understand or try to get more money for expert advice! I refused and I have been trying months later to get my money without success.
I was hoping the credit card company would protect me instead of the crooks and stop their visa, mastercard facilities. I also contacted FCA but they confirmed that they are not regulated and they are doing this with many people.

[Deleted User]

Sorry to hear you've had these problems

Do you have anything in writing claiming they are regulated - FCA registration number etc?

To me, whatever they told you, it sounds like an 'investment' gone wrong - no company or scheme will protect against that.

If you have some evidence they lied about their registration status, or were required to be registered and were not registered then you could go back to the bank & FCA and try that angle (and possibly Police/Trading Standards or whoever deals with that kind of thing) and try under any form of voluntary scheme that's operated (chargebacks/buyer protection etc as InsideInsurance says).

What are the company called? Do you have anything in writing at all?

If you don't have any evidence of them lying to you I can't see anything happening I'm afraid. From what you've said it sounds similar to an investment scam - where people unfortunately do lose money. I doubt any scheme would cover this

http://www.theguardian.com/money/2013/nov/02/how-to-spot-investment-scam

dzug1

taralotti wrote: »

Thanks for your reply.
As I am not working and the money belonged and paid by primary card holder, isn't this proof that any loss or benefit would impact the primary cardholder (partner)?

It has to benefit the primary cardholder, not just impact him. You were presumably intending to make money for yourself

I feel this is illogical and unfair and I do not know if what they are saying is true.

A lot in life is illogical and unfair - doesn't make it untrue



Advice - kick the money for nothing expectation


Try to be less gullible

taralotti

I have long e-mails and complaint in writing to the company (UK options) where I mention their lies over the phone about regulation. This was never denied. FCA said I could report them to Action Fraud. I think I need to do that and possibly try Trading standards as you suggest, Thanks.

jonesMUFCforever

If you had told the primary cardholder what you were up to would he have agreed to it?