Credit card, charge back cover question section 75

UnsureAboutthis

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

DullGreyGuy

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

First of all chargeback and S75 are totally different things. Chargeback is a basic thing created by the card networks and applies to all cards irrespective of the value of the transaction. S75, or more fully, Section 75 of the Consumer Credit Agreement 1974, is a statutory right in relation to products in scope of the CCA.

If you buy something for £30,001 then you have no cover at all, its not that you can claim £30,000 and you just lose the last £1

There is the much less often spoken about S75A which does have a higher limit but it only applies to tied credit (ie the vendor arranges the credit for you like car finance or a 3 year credit on your furniture) and not to credit cards etc. Secondly it only applies after the vendor has failed to resolve the problem whereas S75 you can not deal with the vendor at all and go straight to the bank. 

grumpy_codger

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

UnsureAboutthis

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

DullGreyGuy

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

UnsureAboutthis

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

DullGreyGuy

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

If it's £30,001 and you pay by credit card there would be no CCA protection (chargeback still applies). 

If it's £30,001 and the merchant arranges finance/loan where the money goes straight to them then there is no S75 protection but there would be S75A

Its not a cash purchase, if you pay interest or not is irrelevant to the CCA

UnsureAboutthis

DullGreyGuy said:

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

If it's £30,001 and you pay by credit card there would be no CCA protection (chargeback still applies). 

If it's £30,001 and the merchant arranges finance/loan where the money goes straight to them then there is no S75 protection but there would be S75A

Its not a cash purchase, if you pay interest or not is irrelevant to the CCA

I'm embarrassed and absolutely sorry. I'm still not clear.

In a nutshell. I'm covered up to 30k but not a penny over?

I've also thought of something else. If the RRP of a new car was 30001 and i got it for 30k, would I still be covered?

If I don't get it after this time, I won't trouble you again and read the links again in this post. Thanks.

CliveOfIndia

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

If the item costs £30,001 then S75 doesn't apply.  S75A would only apply to tied finance - if you buy a car costing £30,001 on your credit card, then you wouldn't be covered by either S75 or S75A.

MattMattMattUK

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

If it's £30,001 and you pay by credit card there would be no CCA protection (chargeback still applies). 

If it's £30,001 and the merchant arranges finance/loan where the money goes straight to them then there is no S75 protection but there would be S75A

Its not a cash purchase, if you pay interest or not is irrelevant to the CCA

I'm embarrassed and absolutely sorry. I'm still not clear.

In a nutshell. I'm covered up to 30k but not a penny over?

No.

For S75 if the transaction is up to £30,000 then you are covered in full, if the transaction is £30,000.01 then you are not covered for anything. 

For S75A if the finance is tied (arranged by the seller and tied to the sale of the goods) then you are covered above £30,000.

UnsureAboutthis said:

I've also thought of something else. If the RRP of a new car was 30001 and i got it for 30k, would I still be covered?

The RRP is irrelevant, what matters is the price it is sold to you at, the RRP could be £1 million, but if you got it for £25,000 then you are still covered for £25,000. If the RRP is £29,000 but you paid £31,000 you are not covered. 

DullGreyGuy

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

DullGreyGuy said:

UnsureAboutthis said:

grumpy_codger said:

UnsureAboutthis said:

Hello.
As per the title.

For many years the min spend is 100 pounds and max is 30k.  Does this mean that if someone purchases something over 30,000, you won't be covered, or you will only receive a maximum of 30,000 back?

I'm also aware that you can still be covered for sub 100 pounds, and if you used your debit card but different rules.

MSE: 

• Section 75 refunds
• Chargeback refunds

£30K is the maximum cost, not the maximum refund.

Chargeback rules are the same for debit an credit cards so nothing stops you from using it for sub £100 items paid for by a CC.

Cost? You mean if the item cost 30k plus 1p then section 75 does not cover it? Thanks again.

yes, but S75A would with tied finance                    

Thanks, Sorry for still being confused.

Let's say I purchased an item costing 30k plus 1 pound. Then I would not be covered or will I be covered under a different rule.
It would be a cash purchase in a sense, ie, pay the sell 30001 and then pay off the card at the first due date without paying interest.

If it's £30,001 and you pay by credit card there would be no CCA protection (chargeback still applies). 

If it's £30,001 and the merchant arranges finance/loan where the money goes straight to them then there is no S75 protection but there would be S75A

Its not a cash purchase, if you pay interest or not is irrelevant to the CCA

I'm embarrassed and absolutely sorry. I'm still not clear.

In a nutshell. I'm covered up to 30k but not a penny over?

I've also thought of something else. If the RRP of a new car was 30001 and i got it for 30k, would I still be covered?

If I don't get it after this time, I won't trouble you again and read the links again in this post. Thanks.

Under S75 then yes, up to £30,000 and not a penny more. 

You wouldnt find a car dealership that would allow you to buy a £30,001 car on credit card. It also adds the complexity that they'd offer you finance which opens up the S75A option along with debates on if car tax etc are part of the items price or not. 

Lets instead say a 2017 release Macallan 40 year old sherry cask whiskey that the shop is selling for £30,005 - if you pay full price by credit card then there is no S75, if you negotiate and get it for £29,999 and pay by credit card then you have S75 protection.