Just looking for a bit of clarification and people’s thoughts on this.
I’m going to buy a car over the weekend for around £3000 and I’m wondering if there’s any benefits or cons to buying it on a credit card (Amex if it makes any difference)
I could pay by cash but I’m by thinking I could pay it on my credit card and earn 1% Cashback as a nice little bonus and then pay it off at the end of the month. But, I’m unsure if there is any other benefits & does S75 apply to this?
I usually save up and then I pay for anything over £100 on a credit card. Straight away I will pay the balance. Section 75 is just so invaluable unlike debit card chargebacks which can give loopholes to banks because it is not a protection in law.
The misconception is that you have to pay over £100 to be covered… You don’t! The goods must cost more than £100 to be covered, but as long as you pay £1 on your credit card & the rest as you please (cash, debit, bank transfer etc) then you are still covered
If you get rewards on your credit card, and you can pay the balance off in full (or can balance transfer it to somewhere offering you 0% for 12 months or something) so you don’t end up paying interest, then why wouldn’t you use your credit card!