Official Credit Card PPI / MoneySavingExpert.com Discussion Area

Former_MSE_Dan

This discussion relates to the updated Credit Card Protection Plans article.

Click reply to discuss

scattycat_3

Sorry Dan I just dont believe in it, its a racket and should be avoided.

raeble

Waste of money. I also think it is a racket to be avoided.

Rafter

It is insurance - and by law it isn't compulsory.

Problem is it isn't competitive and unlike car or home insurance, it is not immediately obvious what is covered and what is not.

This policy looks like the best of a bad bunch, but still better not to have credit card debt in the first place or maintain a savings buffer.

R.

dongunn

I have credit card protection thru a company called Sentinel, which covered me from 4.203 t 3.2.06 for £39. Is this cosher? I don't see this company listed in your article.

Phantom_Flan_Flinger

dongunn wrote:

I have credit card protection thru a company called Sentinel, which covered me from 4.203 t 3.2.06 for £39. Is this cosher? I don't see this company listed in your article.

Sentinel covers you if you lose your cards i.e. against fraud, it's not insurance against you being unable to pay your cards if you're made redundant, etc.

aaroncroydon

My partner has a Natwest credit card and has just been charged £20 for a year's membership. He cancelled it last year and didn't expect it to appear this year. We moved house last year, so teh Insurance company allegedly sent out a renewal to our old address. The call centre said that he couldn't cancel the policy as the renewal took place in February and you're given 14 days to cool off and cancel if you wish. I stated the case and he kept referring to the Terms & Conditions. I said I wasn't happy with this and I wanted to speak to his line manager. He put me on hold and said that all of the managers were in a meeting (at 7.30pm?). He said a manager could call me back in an hour. I said that would be fine as long as he/she cancelled the policy. And then he said he would cancel the policy (without referring to a manager), send out a letter confirming the cancellation, and the refund would take 7-10 days.

My point is, no matter what they say about T&Cs, cooling off, etc., stand your ground. How many other people would've said "sod it, it's only £20!" Let's sting them back!

vanessa123

i took out a card for my partner over the internet a months ago, and declined credit card protection (ccp) as it's a rip off!.
but after he had the card for a few months and i looked at the statement it had ccp added to it, so i asked him to ring and find out why.
the company says he agreed to it over the phone which he denies, and they can't find any proof to substantiate their statement, however they do have proof that we declined ccp on the initial application but they are unwilling to refund us.
any help or advice would be grately appreciated.
xxxxx

oldfella

but they are unwilling to refund us.

---

tell them they have 7 days to pay otherwise you will sue them in the small claims court

Mike

PixieFace

Just wanted to let you all know that I have managed to cancel the payment protection on my Lloyds Advance credit card with no real trouble at all. I tried on Friday using the standard customer services line, and was pressured into keeping it, with the usual jargon. However, after a few more calls, I managed to get a direct line to the cancellation department and after a one minute call, they are cancelling, saving me just over £20 a month.

PixieFace

vanessa123

oldfella wrote:

but they are unwilling to refund us.

---

tell them they have 7 days to pay otherwise you will sue them in the small claims court

Mike

thanks for your input, we have put this advice in motion, a man at the company said that we needed to officially complain by letter first to be taken seriously in the small claims court. so we have, and have received a reply stating that it will be sorted out one way or another by the 2nd of february, which i thought was quite good....... i will keep the forum posted on the developments.
thank you

vanessa