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S75 with 2 credit cards
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ForumUser7
Posts: 2,458 Forumite
in Credit cards
Hi, as I understand it S75 with payment split across 2 credit cards is fine, and either card company could be made liable for the full amount (but not both for full, I.e. indemnification principle). The payment on each is over 100 and less than 30000. Does this sound correct please? Thanks
If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
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Comments
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Not fully, the value that you need to consider is that of the good(s) in question not the value of the transaction on each card. So if the goods were £40k you cannot get S75 by paying £20k on two different cards. Likewise you get protection if you only pay £1 on each card.ForumUser7 said:Hi, as I understand it S75 with payment split across 2 credit cards is fine, and either card company could be made liable for the full amount (but not both for full, I.e. indemnification principle). The payment on each is over 100 and less than 30000. Does this sound correct please? Thanks
Under S75 the Merchant and each lender are jointly and severally liable, it's up to you who you chase but you cannot recover more than 100% of your losses else that would be undue enrichment.1 -
It is.ForumUser7 said:Hi, as I understand it S75 with payment split across 2 credit cards is fine, and either card company could be made liable for the full amount (but not both for full, I.e. indemnification principle). The payment on each is over 100 and less than 30000. Does this sound correct please? Thanks
But expect them to argue who is going to dip their hand in their pockets....
But the S75 limit is over £100 upto £30K. That is the total amount. So splitting across cards does not increase the limit.Life in the slow lane1 -
Thanks @DullGreyGuy and @born_again
The purchase is 1 item of around £1000. I’m only splitting as my limits aren’t high enough individually. So sounds like that should be fine?If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.0 -
There is not any real advantage of having 2 credit cards involved from a S75 perspective, obviously totally different if you need it from a credit perspective rather than protection.ForumUser7 said:Thanks DullGreyGuy and born_again
The purchase is 1 item of around £1000. I’m only splitting as my limits aren’t high enough individually. So sounds like that should be fine?1 -
Yeah - wish I could get higher limits - maybe in the future! Sounds like the protection should be fine in this case though with 2 cards anyway 🤞🏼DullGreyGuy said:
There is not any real advantage of having 2 credit cards involved from a S75 perspective, obviously totally different if you need it from a credit perspective rather than protection.ForumUser7 said:Thanks DullGreyGuy and born_again
The purchase is 1 item of around £1000. I’m only splitting as my limits aren’t high enough individually. So sounds like that should be fine?If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.0
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