Why EVERY engaged couple needs a credit card
So this is one of those pages that is just sensible advice, nothing emotive and certainly not exciting. But it does explain why you, as a couple getting married, need to think about how you pay for things to your suppliers.
One of the key benefits and frankly must haves from a credit card is Section 75 protection. I won’t go into the deep and boring stuff, other websites will do that better than me. I’ve also put two links for you to consider reading below – other financial advice websites are of course available.
But I will explain why it’s important to you.
Simply put Section 75 is a piece of consumer legislation than means that the card issuer is jointly responsible for any breach of contract or misrepresentation by a supplier and gives you a legal mechanism to claim a refund from your card issuer for goods or services not supplied. Importantly, it also means that if your supplier goes into liquidation or administration you still have a pathway to be able to recover your hard earned money so you can make alternative plans.
It is important to state four things here:
1 – This applies to all suppliers, not just photography. As a wedding photographer I don’t need to know this, and certainly don’t need to broadcast it, but as a human being I feel it is important to do so.
2 – Accepting credit cards does have an associated cost to the transaction, but importantly and legally a supplier cannot charge you more for paying by a credit card. For me, it is approximately 3% of the value, but equally for me I think the extra protection this gives my clients is of vital importance and something I am happy to bear given the advantages this brings them.
3 – This does NOT apply to debit cards or Paypal, or any other payment aggregator. Debit cards, paypal and similar do have chargeback and remedy mechanisms but are generally voluntary schemes and do not have legal weight in the same way that Section 75 does.
4 – The total value of the product must be more than £1000 and less than £30000 for Section 75 to apply. Importantly however, the whole transaction does not have to be via the same method for Section 75 to apply.
What does this mean to you as a potential client? Well in simple terms I’m totally aware that bank payments can be easier and certainly less trouble. But I will always recommend that at least one of your payments is via credit card to make sure you get the extra protections mentioned above. Therefore my normal recommendation is to make your booking fee payment via a credit card in my online and secure client portal. If you want to make other payments via bank transfer you certainly can, but the credit card system is always available to you in your client portal should you wish to do that.
Most importantly having a credit card is not a license to print money, and certainly not to go overbudget with “extras” for the sake of it. To this end I always work with my clients where they would like me to do so on budgeting and little ideas to make your day more memorable but without blowing the bank. There is a separate page all about this I’ve put together here.
Finally, Section 75 is also NOT a replacement for wedding insurance. I’m totally aware that insurance is ultimately a bit of a gamble: you’re not likely to need it, but if you do, you’ll be very glad it exists. As 2020 has shown in more ways than I would like, the value of a backup plan and protection is often underthought and underestimated. Therefore I will ALWAYS recommend that my clients give due consideration to some form of wedding insurance to protect against the unexpected, and feel that Section 75 is a basic essential.
Ultimately, accepting Credit Cards does cost suppliers more than accepting bank transfers, paypal or similar. But for me giving you the option to have that extra protection is well worth the cost. If a supplier you are considering does not give you that option, maybe ask why?
75 Sections of added bonuses
Every little bit of protection you can have is worth having. Section 75 is NOT a replacement or substitute for insurance, but it’s worth havving in the bag. Ask your suppliers if they will accept Credits Cards, and if not ask why not!