[Items on finance when stolen] Barclays Partner Finance & Apple

loopdaloop

Hello,
Please can someone confirm that if you have an item on credit (in this case a macbook on Barclays Partnership Finance through the shop) - if its stolen, the loss is equally that of the credit provider.

I believe its something to do with credit protection?

As under the consumer Credit Act. Under Section 75 of this Act, credit cards must provide protection for a purchase above £100 and below £30,000.

I assume this applies to finance / loan type agreements but I may be wrong.

Many thanks.

[yours burgled]

[Deleted User]

No.

Contact your home insurance.

eskbanker

loopdaloop wrote: »

Hello,
Please can someone confirm that if you have an item on credit (in this case a macbook on Barclays Partnership Finance through the shop) - if its stolen, the loss is equally that of the credit provider.

I believe its something to do with credit protection?

As under the consumer Credit Act. Under Section 75 of this Act, credit cards must provide protection for a purchase above £100 and below £30,000.

I assume this applies to finance / loan type agreements but I may be wrong.

Many thanks.

[yours burgled]

Just to expand on the previous post, CCA section 75 does offer some protection but only against misrepresentation or breach of contract by the supplier. In the case of theft there has been no such breach or misrepresentation, so therefore no claim against the supplier, or the card provider under s75, and hence the advice to claim on your insurance instead....

bris

Some credit cards used to offer theft and accidental cover to purchases years ago but this was a bonus, a sales tactic just like the interest free period we get today and not a legal right.


It's been a long time since any provider offered that so no, you don't have a claim through the lender.

loopdaloop

Thanks, irony here is that I thought I'd get it on finance 'just in case' anything happened for that extra level of protection that doesn't exist.

boo_star

loopdaloop wrote: »

Thanks, irony here is that I thought I'd get it on finance 'just in case' anything happened for that extra level of protection that doesn't exist.

It's not really ironic.

At least no more ironic than expecting your car insurance to cover your medical expenses for the bout of diarrhoea you suffered after eating a dodgy kebab.

anna_1977

I hope you weren't paying their standard 14.9% APR on the hope of this - never worth taking finance if you don't have to

inkwat

Credit cards will offer protection on the basis of the seller not delivering on the contract expected. For example, if you do not receive what you paid for, or if the item breaks before warranty is up etc. etc. - general buyer issues.

It won't offer protection for loss or burglary unless it explicitly states this. You need to claim through your home insurance/gadget insurance (if you have the latter).

eskbanker

boo_star wrote: »

It's not really ironic.

I can think of someone who'd probably disagree!

Alanis_Morisette wrote:

A traffic jam when you're already late
A no-smoking sign on your cigarette break
It's like ten thousand spoons when all you need is a knife
It's meeting the man of my dreams
And then meeting his beautiful wife
And isn't it ironic, don't you think

Er, no actually....

rtho782

They offer extra protection, if you'd had an issue like the retailer going bust and never delivering the item, or the item breaking and the retailer refusing to repair it, you could have gone after the credit card company.

That doesn't mean they insure it against loss and theft for free.

MallyGirl

bris wrote: »

Some credit cards used to offer theft and accidental cover to purchases years ago but this was a bonus, a sales tactic just like the interest free period we get today and not a legal right.


It's been a long time since any provider offered that so no, you don't have a claim through the lender.

My Amex gives me 90 days Purchase protection - covers theft or damage up to £2500 per item bought on card. Better than nothing