Have to say that I’m a bit confused by all this credit card talk here on this forum.
If you guys have got credit limits on your cards of up to 50K then I am well impressed and must be doing something wrong to only have a limit of £3k on mine!!
As I understand things the card companies obligations under the consumer credit act only cover you if indeed you have taken out ‘credit’ and for the balance outstanding on your card. Therefore you couldn’t just pay in £30k to your credit card account, pay your FTO, then, claim against your credit card if they go bust. Why, because in effect you have not taken out any credit and your balance with your credit card co is zero, therefore… no comeback.
Has anyone ever actually paid the sort of sums of money talked about on the various threads here by credit card?? I can understand a few grand, but is paying for an integrated course on a credit card really an option??...and just how to you get that sort of credit??
Remember debit cards such as Amex etc give you no cover whatsoeveras there is no 'credit' element.
Have I got this wrong?
