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Positive balance on Debenhams Credit Card

dogbytes
Posts: 3 Newbie
in Credit cards
After cancelling flights, I recently had a large refund credited to my Debenhams Mastercard, leaving me with a positive balance of over £1200. I called the Debenhams credit card line, and asked for my positive balance to be credited to my bank account. They processed my request, but said it will take about 10 days for it to go through.
I saw on the news yesterday that Debenhams have gone into administration.
In their terms I see their structure is as follows: "The retailer, Debenhams Retail Ltd, acts solely as a credit broker and only provides credit products from NewDay Ltd and is authorised and regulated by the Financial Conduct Authority with number 692718"
What level of protection, if any, do I have if the company folds before I get my money back from them ?
I saw on the news yesterday that Debenhams have gone into administration.
In their terms I see their structure is as follows: "The retailer, Debenhams Retail Ltd, acts solely as a credit broker and only provides credit products from NewDay Ltd and is authorised and regulated by the Financial Conduct Authority with number 692718"
What level of protection, if any, do I have if the company folds before I get my money back from them ?
0
Comments
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The same as before. The card is operated by NewDay, not Debenhams so your money is safe.2
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