Section 75 Credit Card Purchase Protection: What Are You Covered For?
Sep 2nd 2019
Section 75 of the Consumer Credit Act makes both lenders and retailers responsible for when a service or product isn't delivered. However, the latest survey results shockingly reveal that many people don’t know what it protects them for.
• Nearly 1 in 3 people (29%) don’t realise they’re covered at all
• To help you stay ahead, TotallyMoney has pulled together the top 10 things you need to know about Section 75
A OnePoll survey of 2,000 UK adults commissioned by credit experts [TotallyMoney](https://www.totallymoney.com/), showed many people don’t fully understand the cover they get through their credit card.
If the item you pay for is worth over £100, but less than £30,000, you are covered by Section 75 if you make any of that purchase with your credit card — even £1.
Your claim will only be successful if the Debtor-Creditor-Supplier (DCS) Link isn’t broken.
This means that the exchange of money between you, your credit card company, and the service provider, must be maintained.
So, when the DCS link is broken, often when using a third party such as PayPal, Section 75 wouldn’t apply.
If your airline goes bust before you fly, or your brand-new phone arrives with a cracked screen, you could make a claim to get your money back — provided everything is in order as above.
“A holiday can be the highlight of your year, or maybe you've spent months saving for your dream laptop. But, if it happens you can’t jet off, or the laptop doesn’t even turn on, you can be left feeling like there's nothing you can do.
"That’s where Section 75 steps in. It gives you comfort in knowing that if you feel you haven't received what was promised, that there's something you can do to get your money back.
“Section 75 doesn’t mean we should be care-free about our credit card spending, though. One way to know how much you should be spending on your credit card is by getting your TotallyMoney free credit report. You’ll get regular updates on the effect your credit card spending is having on your credit score.
Section 75 Top Ten Tips
2. We’re talking credit, not debit
3. They’re bust. You’re not broke
4. Pay a deposit, get full value cover
5. Pay part credit and part cheque, get full value cover
6. Stay protected on closed cards
7. Extra expense cover
8. The Section 75 loopholes
9. Section 75 applies to all credit cards
10. The claim process
First port of call: the retailer you bought the goods or services from. Failing that, go to the credit card company — this might be your bank or building society, not Visa, Mastercard or AMEX. They’ll get you to fill out a claim form and voila! Your money is back where it belongs.
For more information, please contact James McCaffrey
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