Cardguard HSBC account: worth it?

Pheasant76

New to the forum so I apologise if this has already been covered. I pay £5.99 a month for card guard with HSBC which they say provides me with a host of benefits should my cards be stolen (covered for £1000 for liabilities in case of fraudulent use; receive £1,500 emergency cash advance if cards stolen etc). Is it worth it or am I paying for something I am automatically entitled to or could receive quite easily in the event of my cards being stolen? Thanks for any help in advance

ukmonkey

Hi Pheasant76 - welcome to MSE!

If it was me I'd cancel it, but only you can make that decision!

TOBRUK

I pay £5.99 a month for card guard with HSBC which they say provides me with a host of benefits should my cards be stolen (covered for £1000 for liabilities in case of fraudulent use; receive £1,500 emergency cash advance if cards stolen etc)

I'm sorry I don't know the ins and outs of these schemes/cover. I pay £18 a year for protection, and this covers any cards I may have as long as their details are on the policy. I'm not actually sure if I need it, but I certainly would not pay £5.99 a month £71.88 a year!

I think there are some companies taking advantage with schemes, especially with the constant worry these days of identity theft. I don't know whether I would be covered if I didn't have this 'card care' policy.

I don't think I shall take out this cover again when it expires, as my brother recently discovered someone had used his credit card details as he found £1800 had disappeared from his account! The police were involved together with the bank - anyway, he got all his money back quite quickly and he hasn't got any protection!