Cash or Credit?

When buying large purchases like for example furniture and household goods, is it really wise to pay by cash? Unless you are walking away with the product in your hand my advice would be NO! Credit cards are the best way to stay protected from non-delivery of goods or company’s going into liquidation before the goods are received. 

If a company goes into liquidation, you may have chargeback rights for goods/services paid for on your credit card but not yet received.

If you have failed to contact the supplier or the supplier does not respond or the situation is not rectified you can contact your credit card company and request that they investigate this on your behalf. What you will have to do is send them your details including the invoice for the purchase, proof of payment and a cover letter stating that you have attempted to contact the supplier. If the credit card company can’t resolve the situation with the supplier, they will refund your purchase.

For more information visit the National Consumer Agency website.

For more information on our tax and accounting services, contact Declan Moore, Manager - OSK Audit.

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