Splitting a large credit card purchase over multiple cards for consumer credit act protection.

jjamestyu

I need to make a large purchase c. £75k 
I want to make the purchase on a credit card so that i have protection.
As i understand the consumer credit act gives cover up to £30k.
If i where to split the purchase into 3 separate payments eg. £25k each would i still have the benefit of the consumer credit act ?
If so should i make the payment on one card, or split the payment over 3 cards with 3 different credit card companies ?

PRAISETHESUN

AFAIK the £30k limit applies to the entire value of the transaction, not per card, so I suspect in this instance you won't be eligible for S75

jjamestyu

Thanks @PRAISETHESUN does that mean that the entire purchase isnt eligible or just the portion over £30k ?

[Deleted User]

The entire purchase.

ARH_2

For section 75 protection to apply, the 'item' needs to cost between £100 and £30,000. The amount you put on the card(s) is pretty irrelevant. In this case, it sounds as if the purchase won't be eligible, whether you split it up or not. 

If the purchase was several 'items', these would be assessed against the £100 to £30,000 range individually.  

Sandtree

What are you looking to purchase?

Section 75A, which is linked finance rather than credit cards etc, seems to offer protection if the item is over £30,000 and the finance is under £60,260

Shakin_Steve

Not everything in this world can be 'protected'. Surely the banks have got to draw the line somewhere, or people would be claiming for private jets or yachts. Spending large amounts of money should be preceded by due diligence. If I were in any doubt whatsoever, I would not be parting with the money.