Fraud liability

nealw_2

Hi all,

I'm new around here and wondered if you'd help me clarify a point on liability for fraud on a new Virgin CC.

When I phoned to activate this new card, the call-centre chappie tried to sell me some fraud protection insurance for £35. I said I didn't want it, but he started telling me that if my card was used fraudulently, I was liable for any transactions made until I informed them it was lost.

I dismissed it all as hard selling, but then I was thinking - what if somehow my account details are stolen (such as via an online transaction, or skimming) and the account is used fraudulenty whilst the card is physically still in my possession? In theory I wouldn't know until the statement date and thus potentially be liable for a large amount of transactions.

Just wondered if the rules have changed, or if it was just sales-monkey scaremongering?

INT1

Money making £££££

Your not liable for any fraud on your credit card. You would only need to be worried if your PIN number was used and The Chip on the front of the card was read

Providing you are not negligient you needn't worry. card protection policys are helpful though as if your purse/wallet is stolen then only takes one call to the member who will contact each issuer and get new card sent out on your behalf. Handy if you have 5-10 cards but the card numbers need to be updated with the policy provider.

nealw_2

Thanks Aldo,

Having worked in credit cards some time ago, I thought he was talking bs but he wouldn't stop going on about it so I started to doubt myself. An easy £35 for Virgin from gullible people then!

Cards will be covered on wife's CPP policy anyway.