FOS warns on lack of understanding of s75

The FOS has said that failing to understand the rules around claims under s75 CCA can affect consumers’ chances of getting their money back. Its guidance debunks several myths:

• that s75 only helps if the purchase is by credit card – when in fact it can apply to point of sale loans and some store cards, just not to debit cards and bank transfers;
• that s75 applies to services and products of any value – when in fact it’s a cost per item between £100 and £30,000;
• that the whole amount must have been paid by credit – when in fact only some of it needs to be;
• that it doesn’t matter who used the card – when in fact it only applies when the primary cardholder made the purchase for themselves;
• that if the bank rejects the claim there is no other option – when in fact there is the right to complain and go to the FOS.