Credit Card Cover

[Baldhead]

I'm looking at purchasing something via the Internet, the company I will be buying from have asked for a deposit of £50, the balance to be paid when the items in stock (4-6 weeks), I don't like the idea of them sitting with my money incase the company goes bust, if I pay by credit card am I covered for any loss if the company do go bust? I seem to recall that it's only for purchases over £100.

Stew

 

[Baldhead]

It's ok,I've found the answer, it appears I will be covered as it's worked on the 'total' cost of the item not the amount of deposit paid.

Stew

 

[AES]

@Baldhead:

It's entirely your business of course, and I guess it depends very much of how much you want that particular item from that particular vendor, but speaking personally I don't like the idea of leaving a 50 quid deposit for 4 to 6 days, never mind 4 to 6 weeks!

Whether you're covered by the credit card company or not.

Why should the vendor ask for it and why should you pay a deposit? Surely regardless of if it's an internet transaction or a face to face buy from a shop, it's just the same (simple) deal? You walk in (go on line); pick up the item you want (add it to your shopping cart); go to the check out and pay (fill in the on line form); and that's it, finished?

If the shop (internet vendor) hasn't got it on the shelf then you walk out empty handed, without paying anything, No?

Only if the item is very "special order" in some way should you be asked to pay a deposit so that the vendor orders it for you, or do I see this wrongly?

But as I say, it's obviously your decision, and there MAY be a good reason - but otherwise, it strongly suggests a vendor lacking capital to me. So my suggest is that you watch out.

Hope I'm not teaching granny to suck eggs.

Krgds
AES

 

[sometimewoodworker]

I'm looking at purchasing something via the Internet, the company I will be buying from have asked for a deposit of £50, the balance to be paid when the items in stock (4-6 weeks), I don't like the idea of them sitting with my money incase the company goes bust, if I pay by credit card am I covered for any loss if the company do go bust? I seem to recall that it's only for purchases over £100.

Stew

Companies are able to put a hold for an amount on a credit card without actually taking the money (Apple does this all the time for replacement items) so if the company won't do this or doesn't know how to do it I would be wary of using them. It is much more likely that they only order after customers order from them. This is how some suppliers can offer low prices.

You can always say to them that you will only order in 4 to 6 weeks when they have stock. The reply to that will give you more information than you have now.

If that is a company that you are happy doing business with, great. Otherwise a different supplier could be a better choice.