Fraud protection and credit cards

Jet

I have several credit cards - some are unused, a couple are used each month and the balance is always paid off each month.

Anyway, every time I get a replacement credit card and I phone up to activate it, the person in the call centre always tries to get me to take out insurance for all my credit and debit cards. I always refuse but I am now wondering if I need it.

What happens if my credit cards (or just the details) get stolen and fraudulent activity takes place? Am I liable for the debt? I always assumed not - but now I'm wondering. Is this just scaremongering by the credit card companies to get me to take their insurance?

Moonbeam

Insurance is normally related to repaying the credit card bills - not fraud - most credit cards come with a fraud guarantee.....

If you don't regularly run bills up on your credit card it's unlikely that you need payment protection on it....

James

Put one question to the person trying to sell you the product:

If I become a fraud statistic and the fraud takes place before I report my card lost or stolen and my PIN is used, will you refund the whole amount if my card issuer considers I've been negligent with my PIN.

If they say they will get it in writing.