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MSE News: Card protection and ID protection mis-selling: now banks will have to refun

Former_MSE_Helen
Posts: 2,382 Forumite
in Credit cards
"Customers mis-sold ID protection and card protection policies from a bank or credit card firm could get refunds..."
Read the full story:
Card protection and ID protection mis-selling: now banks will have to refund victims

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Card protection and ID protection mis-selling: now banks will have to refund victims

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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I can't believe anyone ever fell for this. Whenever I was cold-called, it couldn't have been more obvious what a turkey the supposed insurance was!0
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I can't believe anyone ever fell for this. Whenever I was cold-called, it couldn't have been more obvious what a turkey the supposed insurance was!
Ditto. People get concerned when they hear about the threats without being in possession of full facts. It implied that they were not protected without it.0 -
I was sold this with a credit card and kept paying it to cover my other cards. Does this make me stupid? Or just bombarded with so much of this stuff that I believed the hype? Sadly we're not all as clever as Martin and he can't be there looking over our shoulders every time we make a financial decision. So instead of saying you can't believe anyone fell for it, please can we have some positive suggestions as to what to do now?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I was sold this with a credit card and kept paying it to cover my other cards. Does this make me stupid? Or just bombarded with so much of this stuff that I believed the hype? Sadly we're not all as clever as Martin and he can't be there looking over our shoulders every time we make a financial decision. So instead of saying you can't believe anyone fell for it, please can we have some positive suggestions as to what to do now?
You don't need to be clever, you just need to be aware of what your current products offer and not be persuaded by a biased salesman.0 -
I was sold this with a credit card and kept paying it to cover my other cards. Does this make me stupid? Or just bombarded with so much of this stuff that I believed the hype? Sadly we're not all as clever as Martin and he can't be there looking over our shoulders every time we make a financial decision. So instead of saying you can't believe anyone fell for it, please can we have some positive suggestions as to what to do now?
Don't do it again.
Martin isn't exactly a rocket surgeon or brain scientist after all.0 -
I paid for CPP for a few years about 20 years ago, and I did it mainly for the convenience of calling one number if I lost my wallet. After I stopped paying for CPP, my pocket got picked on the tube. Fortunately I was flying through Heathrow, so I had my travel emergency contact card with various numbers on it. Called from the tube train, over ground now, and cancelled all the cards stolen before I got to Heathrow. Carried on the journey using the backup credit card.
No fraudulent transactions were reported, as I reported the theft within 30 minutes. If I didn't have a mobile phone with me, and no list of telephone numbers with credit card numbers, It could have been days before I could report the cards stolen, as I was going abroad.
CPP also had a drop box service, so you don't have to put your address on your door keys. They gave you a tag, which you put on your key ring, so anyone who finds your keys can hand it to the police, and the police can call CPP, who then call you.0 -
I contacted CPP and submitted my Identity Protection policy number and also my Card Protection policy number, CPP emailed me the next day and said that my Card Protection was taken out through MBNA and not them but made no mention regards my I.D Protection.I emailed them back and asked if they would check out who sold me I.D Protection because i was 99.9% that CPP had sold it. Never received a reply,i think i know the answer.0
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