Credit Card Purchase Protection Insurance

IB24TR

I bank with Cahoot (Santander} and have received an email informing me of a change to my Credit Card conditions, namely the withdrawal of Credit Card Purchase Protection (Section75 of the Consumer Credit Act). I have also noted online Nationwide may be doing the same. Has anyone received similar and under what powers are they doing it? Thank you.

2021BJ

They're not removing S75 protection.  These cards will have had their own purchase protection schemes, which they're now doing away with.

S75 protection isn't going anywhere.

Sandtree

IB24TR said:

I bank with Cahoot (Santander} and have received an email informing me of a change to my Credit Card conditions, namely the withdrawal of Credit Card Purchase Protection (Section75 of the Consumer Credit Act). I have also noted online Nationwide may be doing the same. Has anyone received similar and under what powers are they doing it? Thank you.

S75 is part of a statutory instrument and so the only way credit can be given without S75 protection is my developing a product that sits outside of the remit of the CCA... for example AmEx charge cards are not covered by the CCA and therefore no S75 protection because the balance must be paid in full each month.

It sounds much more likely that they are withdrawing some additional protection that they used to offer rather than S75... Barclaycard used to give X days purchase protection which included things like accidental loss and so goes beyond S75 (most famously advertised by Rowan Atkinson losing a pair of binoculars over the side of a rubber dingy when in character of Jonny English/spy)