Credit card refusal

[Pale Rider]

Having to use credit to get credit is well-known, so I'm surprised someone as financially astute as the OP was unaware of that.

However, taking the question at face value, the OP - having plenty of ready cash - could put the cost of the booking he wants to make on a pre-paid credit card.

Does this offer the same purchase protection?

Hard to see that it can't, the OP would still be paying by Visa or Mastercard credit card.

Fees will no doubt vary, paying two or three per cent extra for that QE2 world cruise would be a nuisance.

However, this Virgin card has a flat monthly fee of £4.75.

The OP could presumably arrange things so as to only need the card for a few months, and in any event someone who 'saves a lot' each year and still enjoys a 'high income', ought to be able to afford a fiver a month.

https://uk.virginmoney.com/virgin/prepaid-card/what-does-it-cost.jsp

 

[Tanis8472]

A prepaid card is not a credit card
Credit cards benefit from purchase protection by law under section 75 of the Consumer Credit Act, but prepaid cards don't have to offer this. That said, there are a few prepaid cards that offer free purchase protection, although this may be less than that offered by a credit card.

More info here
https://moneyfacts.co.uk/guides/credit-cards/the-advantages-and-disadvantages-of-prepaid-cards/

 

[SpokeyDokey]

Having to use credit to get credit is well-known, so I'm surprised someone as financially astute as the OP was unaware of that.

However, taking the question at face value, the OP - having plenty of ready cash - could put the cost of the booking he wants to make on a pre-paid credit card.

Does this offer the same purchase protection?

Hard to see that it can't, the OP would still be paying by Visa or Mastercard credit card.

Fees will no doubt vary, paying two or three per cent extra for that QE2 world cruise would be a nuisance.

However, this Virgin card has a flat monthly fee of £4.75.

The OP could presumably arrange things so as to only need the card for a few months, and in any event someone who 'saves a lot' each year and still enjoys a 'high income', ought to be able to afford a fiver a month.

https://uk.virginmoney.com/virgin/prepaid-card/what-does-it-cost.jsp

@Pale Rider

Insomnia?

 

[Sandra6]

Buy a couple of things on credit and pay them off - obviously -then try again, you'll probably be approved.
Alternatively go into the bank in person and discuss it. I've been turned down online but approved in the bank before.

 

[Sandra6]

I'm intrigued - how do you pay for things? Debit card?

With actual cash money perhaps? People do, you know.

 

[Drago]

I.O.U.'s.


View: https://m.youtube.com/watch?v=WwsOqbiCLIE