Best Credit Card Protection Against Theft/Loss?

putacoininthefountain

I'm trying to figure out whether it's worth me continuing to pay £29 a year to Barclays for protection of my debit & credit cards and passports if they are lost or stolen.

Is it worth it? Are there cheaper options out there? I can't find much info on this anywhere.

Moggles_2

Well, your card could be cloned (if you use a cash machine that a fraudster has tampered with), but using a credit card to withdraw cash from ATMs is a bad idea anyway. This a very expensive way to borrow money.

There's risk attached to everything but, in general, credit cards are the safest way to purchase goods/services. (If you carry cash, it could be nicked. If you use cheques, they could get altered.)

Personally, I wouldn't fork out for insurance. With today's online facilities, it's never been easier to keep track of spending and fraudulent transactions, should you experience any, than it is now.

If the worst were to happen, a phone call to customer services is all that's required to report your card lost or stolen. Barclaycard has a dedicated freefone number for this

putacoininthefountain

Thanks for that - since I posted that message one of my cards has been used fraudulently but the bank noticed it and called me to say that they will be sending me out a new one and refunding what was stolen from my account so I really don't see the point of card protection insurance any more?!

Kind regards,

Louisa