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Payment protection on credit card, any good?
amalis
Posts: 532 Forumite
in Credit cards
Hi everyone,
I lately got my first credit card from Lloyds and without thinking very well subscribed also to payment protection scheme (something similar to Card Guard), but I still have some days to cancel it if I want to. Can anyone explain me is it a good thing to have payment protection (of course, it s not free) or it is just a waste of money?
I lately got my first credit card from Lloyds and without thinking very well subscribed also to payment protection scheme (something similar to Card Guard), but I still have some days to cancel it if I want to. Can anyone explain me is it a good thing to have payment protection (of course, it s not free) or it is just a waste of money?
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Comments
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Get rid of it def. If you feel you need something like PPI then you can go about it privately rather than through the credit card. are you in a stable job? how would you keep up the payments if you were to become unemployed / sick?Credit Cards at 0% £958.00Credit Card at 19.9% £2305.65Total Debt: [strike]£6290.76[/strike] £3263.65DFD: Dec 090
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SecretSquirrel88 wrote: »are you in a stable job? how would you keep up the payments if you were to become unemployed / sick?
There is nothing very stable in these days, but I would say I am not expecting to become unemployed. My credit card I am planning to use just for small purchases (eg. make up, clothes.. my husband gets angry when I buy expensive creams, so I got credit card to shop secretly and slowly repay it) , so it is unlikely that I will not be able to repay it.0 -
tut tut naughty. lol i do that! then I woulud say, no you do not need it xCredit Cards at 0% £958.00Credit Card at 19.9% £2305.65Total Debt: [strike]£6290.76[/strike] £3263.65DFD: Dec 090
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