Credit Card Protection - CPP Renewal, is it worth it?

Ralos

My CPP renewal has just come around again and I'm wondering if it's worth it? It costs £75 every three years for which you get a helpline from anywhere in the world and they will request cancellation and replacement of your cards if they are lost or stolen. They can also provide key tags, ID labels for personal items, protective registration with CIFAS to reduce the risk of identity theft, passport and driving licence assistance if lost or stolen, and an emergency cash advance. This all sounds very useful but I've read somewhere on this site that Martin Lewis offers a similar service which is free but the problem is that I can't find the details, can anyone help me? You can of course call the banks directly but it might mean several international calls if you're abroad when you are busy and stressed about other things. Any helpful comments would be welcome thanks.

[Deleted User]

not something I'd buy. Thought it was a scam when i first saw this years ago 

etienneg

I certainly would not pay for this. It seems very expensive to me for a few key tags and ID labels. I would not want CIFAS protective registration (unless there had already been a fraudulent application in my name) as it makes legitimate applications more difficult for no reason. Most people will go for several (or perhaps many) years without an incident, so if and when it does happen you will have saved far more from not paying for this than "several international calls" will cost. And it's certainly not "buy and forget", as you will have to register any new cards (or changes of card number) with them every time so they know what cards to cancel if there is an incident.

I take several cards when travelling, not all in the same wallet, so I am covered for emergency cash even if I lose my first wallet. I have a list of phone numbers for reporting lost/stolen cards in case my phone is lost/stolen. I take photocopies of passport and driving licence so I have all the details, as well as travel insurance. The latter usually provides help with lost passport etc. anyway, so why pay to duplicate?

MattMattMattUK

No, it is not something worth buying, you are well protected with debit and credit cards anyway.

cymruchris

Not something I'd buy - communications around the world are easier these days compared to 20 years ago when the product probably had a place - the world has moved on - they haven't - and that price seems extortionate. 

born_again

How many credit/bank cards do you have?
Having worked some of the lists sent by these co's most people had already called and cancelled their cards. Before we got their notification.

Key tags, ID labels for personal items, How much would they cost you anyway? Couple of quid.
Protective registration with CIFAS £25 for 2 years direct from Cifas...

I would be asking for a refund for the last 12 months when you have not been able to travel the world.... 😁

Ralos

Thanks for the replies posters, I note that nobody has mentioned whether MSE offers a similar but free service so I must assume that it doesn't exist so it comes back to whether one considers paying for the service is worth it or not. I'm still considering the options...

WillPS

MSE is not a lender nor an insurance provider.

Ralos

WillPS said:

MSE is not a lender nor an insurance provider.

Yes I know that but there are a number of comments in various parts of the Forum that MSE do provide a similar service in that they help you contact the card providers in the event of loss or theft, however perhaps that is no longer available, I don't know. I use MSE's Cheap Energy Club and have found it very useful and they offer help and advice in other areas which have been helpful.