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identity fraud insurance is it any use?
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sandracliff
Posts: 2 Newbie
We have a C.P.P> insurance for lost keys, credit cards etc, but on applying for a virgin credit card were asked to take out identity fraud insurance(with CPP)at a cost of £60 p.a. as a seperate item is this worth doing or is it a bit like the P>P>I insurances that are missold? thanks
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Purely my opinion I would never pay for it.
If ID fraud had happened to me I might think differently.
I take reasonable steps to try and ensure that it does not happen like shred any mail with names and addresses on, virus check PC daily, and check most of my bank accounts and credit cards online at least a couple of times a week.
By doing this I would hope to be able to stop anything crooked at the outset.0 -
Answer:
It's exactly like PPI insurances that were mis-sold.
It'll cost you a hell of a lot less than £60 a year to exercise due diligence on your own behalf.
As per ejones' post.0 -
lloydstsb are offering privacygaurd to all of its customers for free for 2 month in light of the data loss, call 08453000000 to take advantage0
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lloydstsb are offering privacygaurd to all of its customers for free for 2 month in light of the data loss, call 08453000000 to take advantage
Wouldn't touch privacyguard with a bargepole. They asked me to send them documents at the height of the postal strike so that they could prove I was resident at the house I've owned for the last 20 odd years because they don't have me as living here. Not impressed at all with the security of that it took me three phone calls to three separate people to cancel it. The documents which they claimed to have sent out to me never arrived leading to the speculation that they deliberately are delaying processing their free offers until the free period has run out.
Not that I know for sure but having asked a friend who works at a bank she say's it's a ripoff and and to use the cifas protective registration scheme if I'm that worried. It's a lot cheaper and more reliable. http://www.cifas.org.uk/ :beer:0 -
yes, cifas is only £11 ish
the £60 does'nt stop it, only help you sort it out (sure I can cancel a few cards for less than £60 !! )Ex forum ambassador
Long term forum member0 -
CIFAS stands for the Credit Industry Fraud Avoidance System. Unfortunately not all lenders are CIFAS members. This means that you can still fall victim to ID Theft. The system is also PASSWORD and Address Based with an annual subscription fee of £11.75
A system which reaches ALL lenders and offers a greater level of protection to the individual AND ALL lenders can be found at :
www.freeidprotection.co.uk (Check out the Media Links).
The system is FREE if you're not taking out loans, applying for cards or filling in any other application. Maximum cost if you are is around £5 to £6 for every 1000 applications you submit. VFM and a money saving tip.
From The Telegraph: (24 Nov 2007)
"we think this new initiative will play a valuable role in reducing the opportunities for fraudsters."0 -
The system is FREE if you're not taking out loans, applying for cards or filling in any other application. Maximum cost if you are is around £5 to £6 for every 1000 applications you submit. VFM and a money saving tip.
From The Telegraph: (24 Nov 2007)
"we think this new initiative will play a valuable role in reducing the opportunities for fraudsters."
:money: Thanks for this info. :beer:
It sounds exactly what I was originally looking for. A member of my family who thinks that her mail was stolen had thousands taken out in her name in less than a fortnight. They actually caught the woman when she went back to the bank to attempt to add a mortgage fraud to the loans she'd already racked up. Couldn't believe how quickly it was all done.0 -
A system which reaches ALL lenders and offers a greater level of protection to the individual AND ALL lenders can be found at :
www.freeidprotection.co.uk (Check out the Media Links).
The system is FREE if you're not taking out loans, applying for cards or filling in any other application. Maximum cost if you are is around £5 to £6 for every 1000 applications you submit. VFM and a money saving tip.
From The Telegraph: (24 Nov 2007)
"we think this new initiative will play a valuable role in reducing the opportunities for fraudsters."
GREAT POST, JAMES. THANKS!:T0
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