Card Care Mis-sold?

Splegman

I took out a card protection plan (Card Care) through Halifax in 2005 which renewed in 2008 & 2011.

I received a letter from them in July this year stating "your policy will no longer include fraud protection, but don't worry, if you are ever the victim of fraud, you should be covered by the bank who issue your card". I intend to cancel (just not got round to it) as it's the fraud protection that's the main (only!) reason I took it out.

I understand now that my bank always covered me against fraud (providing i wasn't negligent) so my question is:

Considering my bank always covered me against fraud have I been mis-sold this policy as I didn't need it? And if so, what should i do?

Thanks in advance.

McKneff

On buying it in the first place, you should have said, I am covered by my bank fre fraud, I dont need the rest so I wil decline the protection.

Did you read the docments before you signed them.

magpiecottage

I think McKneff is right - except that the bank is in the rather dubious position of promoting a product that you did not need and not drawing your attention to the fact that you did not need it.

Because of that, I think FOS might look sympathetically at such a complaint.

Splegman

Thanks for your replies.

At the time I didn't know that I would be covered by the bank, that's kind of my point. They would have known that but sold me a policy i didn't appear to need. I recall them pushing the fraud point quite strongly as that's why I agreed to it.

I didn't apply by filling in a form. I got a credit card and when I rang the number on it to register it they offered it to me then, and I knew what I was signing up for, just not that it was not necessary!

It was 7 years ago that I initially took it out and I'm not so naive now!

:-)

McKneff

Splegman wrote: »

Thanks for your replies.

At the time I didn't know that I would be covered by the bank, that's kind of my point. They would have known that but sold me a policy i didn't appear to need. I recall them pushing the fraud point quite strongly as that's why I agreed to it.

I didn't apply by filling in a form. I got a credit card and when I rang the number on it to register it they offered it to me then, and I knew what I was signing up for, just not that it was not necessary!

It was 7 years ago that I initially took it out and I'm not so naive now!:-)

They offered it, you accepted their offer and bought it, so it is a case of a miss buy, rather than a miss sale.

Buzby

Afraid I also agree with this view. You purchased a product you did not really need - fraud is only a side issue, they also would have maintained a list of any other cards you held and with a single phone call from you, taken the responsibility of cancelling on your behalf and arranging replacement.

Bearing in mind how long you have been paying for the service, you were (a) clearly satisfied, OR (b) let them take the money each year on a mandate and forgot to cancel after a free period

Either way, you got what you paid for, or mis bought. A complain to the FOS will do little, unless the firm failed in an element of the stated service - the fraud issue as you know is of no relevance due to the banks responsibility, but this has never changed in a meaningful way. Only when the bank rejects your claim of fraud would you then take it to the insurer for a possible different outcome (depending on the T&C's)

The fact they have removed this makes it less attractive, so the fee should reduce unless another compensatory benefit replaces it.

jay-1

Just noticed this article regarding card protection -
http://www.moneysavingexpert.com/news/cards/2012/11/consumers-due-145m-for-mis-sold-card-protection-products

birlingstocks

Hi
I've got card protection from CPP, and I have just a letter to say it is due for renewal. The only thing is I dont remember why I took it out and when I first it out.
Is this a form to be completed and sent off?
Regards
Jan

Buzby

No - it will have been a tick box on the original card application - usually an opt in, but years ago it was an opt out.

birlingstocks

I've had a policy since at least 2009. Is there anywhere I can go to find a copy of my original request for card protection. The only thing I can think of was house insurance with the Halifax.
Jan
PS: I've emailed CPP to see if they can supply a copy of my contract with them.
PPS: A SAR letter will be going out in the post tomorrow.

tight_dundonian

Hi, Yet another lamb who trotted off to the financial slaughterhouse. Like others in this forum took out Halifax card protection "willingly" ( in the sense I said yes to the girl on the phone after the speil about fraud cover).
And have merrily refilled in the form with the details of new cards etc every year. This year I had a quick look at the cover letter which for the first time indicated the fraud cover protection had been removed.
That led me to search the web and I found the articles about CPP being fined etc but no mention of HCP. Is there any update on this situation? I feel a bit of a muppet paying them for something I was already covered for albeit its not a huge sum of money over the piece. Regards Nick