Page 1 of Insurance on CC and Debit Cards...

Could someone just clarify where I would stand if an online company takes money out of my account(pre-order dvd) and then goes bust. I`ve just read this in another thread:

"& if you order on your CC, your CC company will protect you so

Of course if you use your Debit card...."

I have a Visa Delta Debit Card (LloydsTSB), does this have the same cover as a Visa Card?

Thanks
Ross.

whats the difference between a credit card and a debit card?

Well you get credit on a credit card which you pay back monthly like Mastercard and Visa, a debit card draws direct from your bank account, like Switch cards.

This item was edited on Monday, 10th June 2002, 18:04

A credit card is regarded as showing you have a better credit rating & as a result you can borrow on it. A Debit card just allows you to take out of the bank what you`ve put in..generally speaking. I was a little surprised when I had a problem with a supplier that Barclaycard (a CREDIT card) told me that if they couldn`t get my money back (even though I didn`t have the goods) that I would have to pay them. I have this in writing, so you are NOT always protected.

Some card issuers offer 90 day insurance against theft, accidental damage, online fraud and problems with no product being delivered. I know Egg Visa offers protection, as does American Express. These are the only cards I use for online purchases and I`ve never had any problems yet. Touch wood...

In actual fact they are only obliged, under the Consumer Credit Act 1974 (?), to stump up if the purchase is over £100. As suggested, however, some forward thinking companies like Egg do actually protect all online transactions, and it`s pretty rare that a CC company wouldn`t protect you if a company does sink.

The money owed to me is £400.00 & I have a letter from Barclaycard stating I will have to pay if they don`t get the money back

they are just trying to get out of it. Just write to tehem quoting the appropriate acts etc.

They are legally obliged to refund you