With just over a week to go until the big day, it's the final mad dash to get Christmas presents in - and Martin Lewis has issued important advice for anyone still to buy their festive gifts.
The money expert has urged shoppers to ensure they have "powerful protective voodoo" on larger purchases by paying at least 1p on a credit card. Writing on the MoneySavingExpert website, Martin explained: "Buy something costing £100.01 to £30,000 and pay for any of it, even a penny, on a credit card, and the card firm is jointly liable with the retailer for the WHOLE amount.
"So if you can, put at least some of it on a credit card (paid off IN FULL to avoid interest). Then if the retailer goes bust, won't play fair with faulty items, or you buy abroad and can't take the item back, you can go to the card firm," he said.
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This protection is thanks to Section 75, a consumer protection law brought in in the 1970s which means that card companies have a legal responsibility if something goes wrong with a purchase as long as it costs over £100 and less than £30,000. The lender is equally liable along with the retailer, and must protect you on the entire cost of the purchase even if you pay as little as a penny of the amount with your credit card.
Martin added that debit card and credit card purchases under £100 are also protected by a little-known system called chargeback. "If you don't get something you paid for by credit, debit or charge card and the firm is refusing to refund you, you can ask your bank to 'reverse the transaction' and get your money back via chargeback," the MoneySavingExpert website explains.
"The main requirement for getting your money back through chargeback is evidence that there's been a breach of contract (for example, you didn't get what you paid for) and the firm will not give you a refund. You must try to get a refund from the firm first, before you try chargeback."
Other top tips for Christmas shopping mentioned by Martin included checking whether you are due a refund or compensation if you paid express delivery for a parcel and didn't receive it in time. He also told shoppers that by law they don't need a receipt to return an item if it's faulty, only proof of purchase such as a credit card statement.
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