Credit Card Fraud Protection

snowmaid

Not sure where I should post this? I am looking for a good, but cheap credit card fraud protection cover? Just discovered we are paying a fortune to have our cards covered and are looking for something else!:mad:

snowmaid

Just bumping this in case anyone has an idea?

Ta

yorkiegal

When you say fraud protection are you talking about the type of policy which allows you to block all your cards with one call? Those are operated either by CPP or Sentinel, although they may sound like they are part of your bank or card issuer. Eg. Natwest Card Protection and Marks and Spencer Card Safe are both operated by CPP. The actual fraud protection isn't needed at all. Provided you have acted responsibly and not disclosed your pin number, you will automatically be covered by your card issuer and they will refund any money taken. But if you don't want the hassle of cancelling all your cards seperately then the cover can be useful. The credit card companies have various different deals with the card protection companies, so even though it's all managed by the same call centre, different customers often pay different premiums.
A few years ago CPP rebranded their policies and had various levels of cover, such as Value, Classic, Plus etc. They automatically switched customers over to a new type of policy depending on which card issuer they came to them from. So in some instances a customer who had paid £12 for the year suddenly found themselves on a £95 three year policy at renewal without having being asked. I worked there at the time and had to field a lot of angry calls lol.
If you're talking about identity protection then that is completely unneccessary and a waste of money. Only 0.5% of IPP customers ever make a claim each year.

meer53

Yorkiegal is right, you don't need to pay for Fraud Protection, as long as you haven't divulged your PIN number to anyone, or been negligent with your card, you will be refunded in full. Personally, i don't think paying CPP or Sentinel is worth it either, as long as you have quick access to your card details if you lose them, you can deal with it yourself. How many times have you lost your cards ? Some people like the convenience of making just one call but i would rather keep my money and deal with it myself !

snowmaid

Excellent, thanks guys. Thought it was a good thing at the time, until I realised how much it is costing!! :mad::mad:

Basically I'm worried about cloning etc. Happened to hubby when we were in the Lake District, few weeks later his 'card' was used for a withdrawal in Bulgaria!!!

The bank did refund the money, is this standard procedure with all banks and cards?