Card Protection

Chip_Butty_3

Having took advice from this site I'm collecting an array of cards. I was wondering what protection is out there at the moment to 'protect them' in the event that they are stolen.

I remember the Alliance & leicester trying to sell me a package & laying it on that if they were taken I'd be liable for funds withdrawn/used.

So in essance, what's available & which is the best ?

Thanks, in anticipation.
Micc

Stonk

I remember the Alliance & leicester trying to sell me a package & laying it on that if they were taken I'd be liable for funds withdrawn/used.

That's pretty evil of them, because you wouldn't be - unless they were "taken" by someone whom you gave permission to use them.

Sentinel is the big name. I think their cover is £20 a year. It may be included with some cards - so check that first, especially if you have a lot of them. It used to be a benefit of my Lloyds TSB card, but they stopped doing it recently (since which point I can no longer see any benefits of that card whatsoever!).

Sentinel seem OK; let you change details whenever you like; although I was concerned that they sent confirmations containing all your card numbers undisguised through standard post. Eek! Hopefully that will have changed. See if they have an online details changing facility.

Stonk

I should have made it clear. Sentinel is not insurance against losses - AFAIK there's no need for that because it's not your liability. Didn't Halifax recently win an "award" for Worst Financial Product for selling something like that?

Sentinel's service is that they keep details of all your cards so that you can make a single phone call to report the whole lot missing. This is usually what card companies are on about when they use these tactics.

grumbler

Martin's article: 'Credit card protection plans - a waste of money!' ...

Xbigman

Why do you have a lot of cards? If you are rate tarting or stoozing then you might as well cut all but one of them up. The idea after all is to not actually use them as credit cards. If you never use them then you don't need the little plastic square and if its destroyed it can't be stolen.

If you have a lot of cards because you are a debt magnet (which I think from your post you are not) then that is even more reason to cut them up.
Regards



X

Robert_Sterling_3

Perhaps the credit card company would kindly cut them up for you on day one and just send you the potential stooze pot gains.