Monthly payment via credit card?

edited 30 November -1 at 1:00AM in Credit Cards
2 replies 762 views
thrashxthrashx Forumite
13 Posts
edited 30 November -1 at 1:00AM in Credit Cards
Hi all,
I purchased a new car a few weeks ago, I part exchanged my car as a deposit and didnt have a chance to use my credit card for the deposit.
I was wondering if it would be possible to pay for one of my monthly payments by credit card? I dont really know how it works but I thought if its set up as a direct debit you cant technically pay with a credit card as its not coming from a bank account?
If I were to do this would I still be protected under section 75?

Replies

  • grumblergrumbler Forumite
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    thrashx wrote: »
    Hi all,
    I purchased a new car a few weeks ago, I part exchanged my car as a deposit and didnt have a chance to use my credit card for the deposit.
    I was wondering if it would be possible to pay for one of my monthly payments by credit card?
    This depends on whether the lender accepts CC payments or not. Most likely, it doesn't.
    I dont really know how it works but I thought if its set up as a direct debit you cant technically pay with a credit card as its not coming from a bank account?
    What doesn't come from a bank account? A DD does. And no, DDs are for current accounts only and are based on the account number and the sort code.
    A similar arrangement for credit/debit card payments is called Continuous Payment Authority (CPA) and is based on the card number.
    If I were to do this would I still be protected under section 75?
    No, but your are already protected as you used credit to buy it. Your loan company is liable under s75.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • guesswho2000guesswho2000 Forumite
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    grumbler wrote: »
    ...Your loan company is liable under s75.

    Unless OP paid over £30k for the car...they did state that it was new :P
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