Cardguard or credit card theft protection

lcollins76

Hi,

I wondered what Martin had to say about cardguard schemes. CPP currently charges £20 per year to protect against you getting bank and credit cards stolen. Is it worth it? Are there any cheaper/better alternatives out there?

I see that there was a thread discussign this but I haven't seen any input from Martin himself on this subject.

nomoneytoday

If your card is stolen, you are only liable for the first £50

The question is, do you consider piece of mind worth £20 a year?

Trying_to_Budget

Hi

I was just going to post this same question. My annual card protection with Sentinel is due (Also £20) and Im wondering if it is worth it or not. Are debit cards protected the same as credit cards, if you dont have this sort of protection?

The_Boss

Being cynical, does accepting this make you more likely to be accepted for a card if its a borderline decision?

tomstickland

Whenever I've had fraudulent transactions on an account then the bank have always refunded me. I don't see the point in paying extra for something I don't need.

lcollins76

lcollins76 wrote:

Hi,

I wondered what Martin had to say about cardguard schemes. CPP currently charges £20 per year to protect against you getting bank and credit cards stolen. Is it worth it? Are there any cheaper/better alternatives out there?

I see that there was a thread discussign this but I haven't seen any input from Martin himself on this subject.

Thanks to those who replied to my post. I'm still swithering as to whether to re-new it or not...

mturrell

:rolleyes: We've been with Barclaycard Sentinel for many years, last time in 2004 paying £39 for three years of cover. Today we have received our renewal notice for "Sentinel Gold" (and new and higher level of cover) for £70 for three years. When I rang and asked if we could just continue with the level of cover we currently have, I was told I could for £50 for three years. There was no mention in many pages of literature that this was an option.

Now I'm wondering if there is a more cost effective form of cover. What other companies provide Cardguard Schemes?

Show_me_the_Money_6

If you find other more cost efficient schemes let me know please.

I am in the same position ... I think the the £70 quid option for Sentinel Gold is outrageous !!

ChrissyJ

I today have received a renewal for my Sentinel which had become this 'Gold' package for £70 (3 years). When I phoned to say this was far too expensive the lady I spoke to tried very hard to convince me the benefits of taking up this cover, and only when I insisted that I was not prepared to pay this amount did she tell me that I could continue with my existing cover for £50 which is what I paid 3 years ago. Again, there was no indication on the renewal letter and enclosed documentation that the lower priced policy was still available. Very naughty of them!

Budgeteer_2

ChrissyJ wrote: »

Very naughty of them!

Very naughty indeed. I have just come off the phone to them and they told me I could not continue on the same level at all!

Trouble is, the only viable alternative is cpp which has mixed reviews. I have a little time, but suspect I will choose to press for the £50 for three years.

The Gold cover includes CIFAS (it actually says available, not specifically included) but as one of Martin's articles says you can get this for £11.75 if you have your documents stolen

Crabman

Beware CPP, they will try to use their ambiguous Ts&Cs against you if a claim crops up. Make sure you read the Terms and Conditions and you'll soon see they offer no additional protection over that of the banks/building societies. Not worth it at all in my opinion.