Sorry it's another finance question

Natasha2
Natasha2 Forum Participant Posts: 306
100 Comments
edited March 2017 in Caravan & Motorhome Chat #1

Buying a nearly new caravan and have paid the £500 deposit on a credit card.  

Obviously thinking if we have future 'issues' is this enough for the credit card company to assist us  or should we be looking to take an amount on finance as well?

 

Comments

  • Bakers2
    Bakers2 Forum Participant Posts: 8,196 ✭✭✭
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    edited March 2017 #2

    I think you're OK. My understanding is £100 minimum. But I'm happy to be corrected 😆.

  • DSB
    DSB Club Member Posts: 5,675 ✭✭✭
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    edited March 2017 #3

    I think in theory you're OK.  How it works in practice, I've no idea.  Any problems I've have with a van have been sorted out.

    David

  • EasyT
    EasyT Forum Participant Posts: 16,194
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    edited March 2017 #4

    My understanding is as Bakers

  • DavidKlyne
    DavidKlyne Club Member Posts: 13,867 ✭✭✭
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    edited March 2017 #5

    What would be interesting to know whether that just protects the part paid for by credit card or would it extend to the full purchase price?

    David

  • Settermum
    Settermum Forum Participant Posts: 127
    First Comment
    edited March 2017 #6

    Yes, as long as at least £100 has been paid on the credit card, the total amount of the purchase price is covered by section 75 of the consumer credit act.

  • Natasha2
    Natasha2 Forum Participant Posts: 306
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    edited March 2017 #7

    Thanks for your replies folks, I thought this was the case but nice to have it confirmed. 

    I did want to put the whole amount on credit cards and enjoy the M &S and Tesco points benefits but it appears there is the usual % fee for using credit cards.

     

  • Tammygirl
    Tammygirl Club Member Posts: 7,957 ✭✭✭
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    edited March 2017 #8

    According to the 'Money Expert' Martin Lewis it's the 'Total' amount of the goods that need to be over £100, he advised on his show recently, that you could in theory pay as little as 1p  on the cc and you would be covered.  So the OP is well within the rules.

  • EasyT
    EasyT Forum Participant Posts: 16,194
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    edited March 2017 #9

    Section 75 info from Martin Lewis: http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

  • Oneputt
    Oneputt Club Member Posts: 9,145 ✭✭✭
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    edited March 2017 #10

    Your well covered and the credit card company will get involved for the total amount.  Have a look at Martin Lewis website, money saving expert

  • Metheven
    Metheven Club Member Posts: 3,987 ✭✭✭
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    edited March 2017 #11

    .... and although not as good as Section 75 and Credit cards, never forget 'Chargeback' for Debit Cards if you have a similar problem. I have successfully used 'Chargeback' when a Balloon flight firm (Go Ballooning) went into liquidation in 2013, the Halifax (eventually) refunded me £212 on my Debit card.

  • Pippah45
    Pippah45 Forum Participant Posts: 2,452
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    edited March 2017 #12

    So does that mean we can use the debit card equally well?  I don't like being charged extra to use my credit card as is so often the case.

  • EasyT
    EasyT Forum Participant Posts: 16,194
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    edited March 2017 #13

    No, protection using section 75 of the consumer credit act is enshrined in law. 

    The VISA Debit card protection scheme is not and could be problematical in the event of disagreements.

    The Maestro Debit card offers no protection.

     

    Article:   http://news.bbc.co.uk/1/hi/programmes/working_lunch/7593369.stm

  • Natasha2
    Natasha2 Forum Participant Posts: 306
    100 Comments
    edited March 2017 #14

    What a coincidence Dave we did exactly the same thing.   

     

  • anothersunrise
    anothersunrise Forum Participant Posts: 264
    edited March 2017 #15

    It depends how many Tesco points you would get and the end value, after 3x or 4x's - Depending on what you were going to use them for.  

  • MDD10
    MDD10 Forum Participant Posts: 335
    edited March 2017 #16

    Credit card payment of minimum of £100 and total payment covered.  Just some that for my new van

  • misterg
    misterg Forum Participant Posts: 17
    edited March 2017 #17

    Just been through this and received £1500 from Capital One whose card I used as a deposit on a new Bailey from Robinsons. The main advantage is this route is free and if credit card co refuse you can appeal to the Financial Ombudsman also free. The alternative is fast track County Court but fees apply but you may get more if you win.

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