Property investor reaps benefits of credit card protection
A Dorset man has been held up as a good example of the security benefits afforded by credit card payments.
Property investor reaps benefits of credit card protection”
Les Harrogate, 47, used plastic to pay a 30% deposit to Churchill Properties Overseas on a two-bedroom villa in Estonia, reports the Times.
However, when the company collapsed Mr Harrogate discovered his funds were safe thanks to his card provider's joint and equal liability with the supplier.
According to Frank Shepherd, a spokesman for advice service Consumer Direct: "Since 2007 this has also applied to overseas credit-card transactions for goods costing between £100 and £30,000, and you have up to six years after the purchase to make your claim."
Mr Harrogate was given his full refund three months later, while others who had made cheque or bank transfer investments on similar properties lost out.
In related news, opera star Lesley Garrett has also recently expounded the benefits of credit cards.
She told the Telegraph she converted to this type of payment after learning about the consumer protection advantages cardholders enjoy.
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