the power of creditcards

[anonymous-user]

i know a lot of here use cash as well as wouldn't dream of investing in a scam, but really shows how useful they are.

http://www.telegraph.co.uk/personal-banking/credit...

[boxedin]

Yes, and a reminder not to use PayPal for anything of value.

All my large purchases have payment in full or partial with a Credit Card for the support if it all goes pear-shaped.

For instance to pay for something I bought a while back from a company, they kept pushing for BACS. I told them it would be paid using a credit card and the remainder vi a faster payment. They were confused at first, until I explained why and they were fine with it.

[rossub]

To be honest it feels like he's scammed the credit card company as well. He thought it was a risk, so used the cc as insurance. If he thought it was that risky, why the hell did he invest in the first place!

If I was investing that amount of money, I'd make damn sure it wasn't a scam.

[anonymous-user]

rossub said:

To be honest it feels like he's scammed the credit card company as well. He thought it was a risk, so used the cc as insurance. If he thought it was that risky, why the hell did he invest in the first place!

If I was investing that amount of money, I'd make damn sure it wasn't a scam.

but this is the whole point of cc, use it wisely and it pays off.

For example use it for part of a car purchase and add another level of protection, the thing is not a lot use it like this.

[anonymous-user]

The Spruce goose said:

For example use it for part of a car purchase and add another level of protection, the thing is not a lot use it like this.

...although you need to be aware that the protection only applies if the WHOLE price of the car is less than £30,000

http://www.thisismoney.co.uk/money/cardsloans/arti...

Examples:

1. Buy a car for £29,000 paying the whole price on credit card - full protection applies. If the dealer goes bust after delivery and the car turns out to be defective you have the same rights against the credit card company as you would have had against the dealer.

2. Buy a car for £31,000 and pay initial deposit of £10,000 by credit card, paying the balance by bank transfer. Dealer goes bust after delivery and the car turns out to be defective. There is NO protection. You can't claim against the credit card company at all.

[rossub]

The Spruce goose said:

but this is the whole point of cc, use it wisely and it pays off.

For example use it for part of a car purchase and add another level of protection, the thing is not a lot use it like this.

There's a difference between protecting yourself from company insolvency and using someone else's money on an outright scam.

[anonymous-user]

rossub said:

There's a difference between protecting yourself from company insolvency and using someone else's money on an outright scam.

maybe but not to the CC firm.