"Did You Pay By Credit Card?"

Change at Barnham · Mar 14, 2020

With many companies looking like they're going out of business there are many genuine questions being asked on consumer programmes and forums about how to get various refunds.

The standard reply seems to be that if you paid by credit card you will be able to claim for a refund under the the Consumer Credit Act.

As this is likely to total hundreds of millions or even maybe over a billion, how do Mastercard and Visa cope with this?

Yes, I know they also earn fortunes, but there must be a tipping point?

There must be a few banks and insurance companies wobbling?

Beach Hut · Mar 14, 2020

Always pay for Holidays by credit card and it has ensured refunds where it goes wrong and you are right there will be serious knock-on effects on all businesses.

Mr Bridger · Mar 14, 2020

Paid for my 1901 by credit card, what’s Barbers email.........

Weststander · Mar 14, 2020

BBC just mentioned that £100b may be lost by the global travel industry including airlines.

Then there are the credit card banks.

I would imagine that various governments will bailout these businesses, using quantitive easing, as this progresses.

It would serve no one if the likes of BA, Jet2, Lufthansa, Easyjet, Travel Republic go bust. Countless jobs and livelihoods on the line.

Beach Hut · Mar 14, 2020

Weststander said:
BBC just mentioned that £100b may be lost by the global travel industry including airlines.

Then there are the credit card banks.

I would imagine that various governments will bailout these businesses, using quantitive easing, as this progresses.

It would serve no one if the likes of BA, Jet2, Lufthansa, Easyjet, Travel Republic go bust. Countless jobs and livelihoods on the line.

It looks ominous however once the world gets through this people will still want to go on Holiday

Weststander · Mar 14, 2020

Beach Hut said:
It looks ominous however once the world gets through this people will still want to go on Holiday

I expect we’ll travel more in the 12 months once it’s all over (including the ending of restrictions at destinations), with the money saved by not holidaying in the next 6 months or so.

Harry Wilson's tackle · Mar 14, 2020

My limited understanding of the mathematics of history and events is that unexpected catastropic change can tip an apparently stable system across a horizon into an unknown configuration. In other words, nobody knows what might happen in the next few months. Brace yourselves.....

Beach Hut · Mar 14, 2020

Weststander said:
I expect we’ll travel more in the 12 months once it’s all over (including the ending of restrictions at destinations), with the money saved by not holidaying in the next 6 months or so.

Probably, the 5 nights we have booked next month in Krakow is looking highly unlikely now........

Stranded in Lanzarote last month with three cancelled flight to and from - might just write-off any chance of a holiday this year.

Weststander · Mar 14, 2020

Beach Hut said:
Probably, the 5 nights we have booked in Krakow is looking highly unlikely now........

Stranded in Lanzarote last month with three cancelled flight to and from - might just write-off any chance of a holiday this year.

Luckily for us, only flights booked for NYC in the summer. I came to the conclusion a while back they’ll be cancelled by Norwegian at some stage. The hotel is easily cancellable with the credit card ‘deposit’ scrubbed.

Beach Hut · Mar 14, 2020

Weststander said:
Luckily for us, only flights booked for NYC in the summer. I came to the conclusion a while back they’ll be cancelled by Norwegian at some stage. The hotel is easily cancellable with the credit card ‘deposit’ scrubbed.

Well it is a full Easyjet package to Krakow so I assume if flights cancelled full refund. We have flights only booked to Portugal late May for a wedding so once again if cancelled a refund.

Mexico one is a potential issue possibly with Tui, £500 paid and balance to be paid early may for two weeks in August.........

Kinky Gerbil · Mar 14, 2020

Weststander said:
BBC just mentioned that £100b may be lost by the global travel industry including airlines.

Then there are the credit card banks.

I would imagine that various governments will bailout these businesses, using quantitive easing, as this progresses.

It would serve no one if the likes of BA, Jet2, Lufthansa, Easyjet, Travel Republic go bust. Countless jobs and livelihoods on the line.

I’m not trying to turn it into a Brexit thingy

But the last thing the Government needs is our Airlines to go under if we are trying to trade and be a business hub.

HalfaSeatOn · Mar 14, 2020

Credit card purchase needs to be £100 plus for a single item. Wifey ‘bought’ a few items from dodgy company, Express Supplements in Luton, and won’t be seeing that money again.

Nitram · Mar 14, 2020

HalfaSeatOn said:
Credit card purchase needs to be £100 plus for a single item. Wifey ‘bought’ a few items from dodgy company, Express Supplements in Luton, and won’t be seeing that money again.

Worth contacting credit card and claiming back using Chargeback.

Nitram · Mar 14, 2020

I’ve also had money returned over damaged goods when using a debit card for goods over £100 after contacting my debit card supplier. Don’t know if applies to all debit cards but mine is also a Debit Visa card.

Weststander · Mar 14, 2020

Nitram said:
I’ve also had money returned over damaged goods when using a debit card for goods over £100 after contacting my debit card supplier. Don’t know if applies to all debit cards but mine is also a Debit Visa card.

Debit card chargeback is a scheme subscribed to by some banks, which may give full compensation.

https://www.which.co.uk/consumer-rights/advice/how-do-i-use-chargeback

mikeyjh · Mar 14, 2020

Change at Barnham said:
With many companies looking like they're going out of business there are many genuine questions being asked on consumer programmes and forums about how to get various refunds.

The standard reply seems to be that if you paid by credit card you will be able to claim for a refund under the the Consumer Credit Act.

As this is likely to total hundreds of millions or even maybe over a billion, how do Mastercard and Visa cope with this?

Yes, I know they also earn fortunes, but there must be a tipping point?

There must be a few banks and insurance companies wobbling?

Surely where Visa/MC are involved, it's the card issuer that is liable? eg. A bank? Amex likely to be hit quite hard though as they're also the issuer in most instances.

mikeyjh · Mar 14, 2020

HalfaSeatOn said:
Credit card purchase needs to be £100 plus for a single item. Wifey ‘bought’ a few items from dodgy company, Express Supplements in Luton, and won’t be seeing that money again.

Wifey would also need to be using her own credit account for it to qualify, little bit of a loophole that the banks will use there....

Ernest · Mar 14, 2020

I doubt many airlines will be in business if this lasts too long

Kinky Gerbil · Mar 14, 2020

US Ban UK/Ireland flights

HalfaSeatOn · Mar 14, 2020

Nitram said:
Worth contacting credit card and claiming back using Chargeback.

Thanks Nitram, will give them a ring.

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