CPP Card Protection

AlexUK_3

I have had this firms card protection for 6 years. The renewal has just come in for 3 further years - £44. Do I actually need this, their literature goes on about if my CC are stolen I am liable for the first £50 each day before I report them stolen. Anyone know if this policy is a waste of time?

Thanks and sorry if I've posted in wrong forum.

ad44downey

AlexUK wrote: »

I have had this firms card protection for 6 years. The renewal has just come in for 3 further years - £44. Do I actually need this, their literature goes on about if my CC are stolen I am liable for the first £50 each day before I report them stolen. Anyone know if this policy is a waste of time?

Thanks and sorry if I've posted in wrong forum.

'Card Protection' is for mugs only. No wonder the credit card company are so keen to sell it to customers. Half their profits must come from this mug insurance

AlexUK_3

Is all this stuff about being liable if my CC gets nicked rubbish then. Is there no £50 a day liability to me?

Is there no point in having CPP protection? Anyone look at their website for me and see if I should cancel this plan then...Thanks.

Just looked myself is this bit rubbish then?

Most banks will only cover you after you tell them that your cards are missing. But with CPP, you're covered regardless.

James

If you loose your card or have it stolen and it's used with your PIN before you report the loss or theft, then you'll have one difficult battle with your card issuer.

If your card issuer decides you were negligent with your PIN, CPP wont re-imburse you for your loss. Ask them this very question.

To protect yourself from liability issues IMHO keep on signing and get yourself Chip & Signature Credit cards.

The most you're liable for in any other situation is £50 (check your terms and conditions) and the Banking Code.

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