Couple of questions about credit cards

buzzby

Hi

As I have mentioned on another thread, it looks like I could be losing my job at the end of the year due to relocation.

The thing is I have 2 credit cards £1000 on one £2000 on the other.

I dont have payment protection on either, could I add this on now?

Also would like to try and pay as much off as quick as possible, If i was to speak to the credit card companies what are the chances they would reduce or take off the interest on the cards?

One is Santander the other Capital One.

Many thanks

Buzz

lisyloo

You can't cover events you already know about.

If i was to speak to the credit card companies what are the chances they would reduce or take off the interest on the cards?

If you are up to date on payments then zilch.
They will only help people who are in trouble and by that I mean in arrears.

ironlady2022

Agree with lisyloo if everyone did this then no point in buying in adcance. What you need to do is try and clear it before you end up losing the job and I mean you need to do an income and expenditure and see where you can cut down on your expenses. Do you have any savings? Better to use savings to pay it off now and rebuild it again.

SCO

lisyloo wrote: »

You can't cover events you already know about.



Is it not the case as long as you are not made redundant within 90 days of taking the policy out you are ok. I would think if it was taken out now they would be ok, just be vauge as to when they were told especially if there has been no written commiunication.

ironlady2022

I doubt it companies will be asking when they first knew about it or had an inkling. When it comes to claiming all events and timeline will be scrutinised.

Degenerate

buzzby wrote: »

Hi

As I have mentioned on another thread, it looks like I could be losing my job at the end of the year due to relocation.

It all depends on the source of that information. Have you been formally notified of this? Are you officially "at risk"? Or is this just a rumour, or an idea being mooted by management with no decision declared with regard to your position?

My position had been mooted to relocate for over 2 years, but they didn't formally announce our move and put me "at risk" until January this year. As far as I'm concerned, up until that point I was free to remortage, take out insurance policies etc without declaring anything. If you find yourself having to claim on a PPI policy and they ask when you found out about this, you tell them the date you were notified you were "at risk".

buzzby

What it is, we have been told redundencies will be a last result for those who cant do the move. nothings official yet. Its very early stages. The move hasn't even been given the green light yet. Theres got to be a voting process with employees yet etc.
just wanted to be set about every eventuality.

Also how would I go about adding PPI. Do I just phone the credit card company? Or can it be done online?

Everytime I do a google search about adding PPI I just get information about reclaiming.

Cheers for all the advice so far.

izools

buzzby wrote: »

nothings official yet. Its very early stages. The move hasn't even been given the green light yet

Then there's no reason not to take out PPI now.

You can't be expected to choose not to buy Insurance off the back of a rumour, just as much as you wouldn't be able to claim on a policy off the back of a rumour.

If you'd been given formal notification that your position is at risk, that would be a different matter. As you haven't, probably time to get some PPI

Just call them, and say you want payment protection insurance. They'll bite your arm off!

buzzby

Just trying to do my Santander one now. Not sure they will bite my arm off. Been on the phone for the last 45 minutes and 7 different departments over 2 companies and still no joy.

izools

buzzby wrote: »

Just trying to do my Santander one now. Not sure they will bite my arm off. Been on the phone for the last 45 minutes and 7 different departments over 2 companies and still no joy.

Typical Santander.