I never knew this, did you?

[Phil Pascoe]

The Consumer Credit Act gives the purchaser protection on purchases between £100 and £30,000, right, everyone knows that. Did you know, though, that only a small part of that has to be paid by credit card? So if you buy e.g. a £3000 holiday where the seller surcharges for a credit card transaction, you can pay £2,999 on a debit card and £1 on a credit card and get the same protection if the travel firm goes belly up, paying the surcharge on a £1 only. There could be all sorts of transactions where that small credit card payment would give protection.

 

[monkeybiter]

Is your £1 protected or the full amount. Any precedents?

 

[Phil Pascoe]

The full purchase. It's in the financial advice pages in the ... ahem ... Daily Mail.

 

[acewoodturner]

Are you sure that the minimum purchase on a credit card doesn't have to be £100?

 

[Phil Pascoe]

The purchase has to be over £100 - but only a small part of it has to be on the credit card, it doesn't matter how the rest is paid.

 

[Rorschach]

Generally the credit card charge is a flat rate though, I haven't seen a % rate in years. So you might as well just stick it all on credit card.

 

[Gary]

Generally the credit card charge is a flat rate though, I haven't seen a % rate in years. So you might as well just stick it all on credit card.

Yes, but a travel agent will charge you a fixed amount to pay by card. Say 2.5% so it will add to the cost paying the full three grand on a card.

 

[Gary]

The Consumer Credit Act gives the purchaser protection on purchases between £100 and £30,000, right, everyone knows that. Did you know, though, that only a small part of that has to be paid by credit card? So if you buy e.g. a £3000 holiday where the seller surcharges for a credit card transaction, you can pay £2,999 on a debit card and £1 on a credit card and get the same protection if the travel firm goes belly up, paying the surcharge on a £1 only. There could be all sorts of transactions where that small credit card payment would give protection.

Where have you been hiding?

I thought Martin Lewis had told everyone.

 

[Phil Pascoe]

I don't read M. Lewis, and I probably wouldn't have paid it any attention anyway having never used a credit card. I just came across this by chance, and thought it might save someone a quid or two.