Card Protection

Card Protection is a generic term for remote assistance provided for when you - or your family - lose your credit cards at home or abroad.

A single call to the card protection company triggers off a series of calls to each of your card companies to advise them that your cards are lost or stolen. Card Protection often includes insurance if lost or stolen cards are misused and extras such as replacement key service and change of address services. Card Protection can be expensive if purchased through your credit card company, so it’s best to shop around for insurance.

Card Protection policies are available from most banks and credit card providers and cost from around £12 per month. There is also the option, offered by some companies, to insure all those in your household that have a credit card, which costs around £30 per year.

If your credit cards have been lost or stolen you are usually liable to pay only the first £50 of any financial loss. This limit does not apply if you have lost your card as a result of reckless behaviour and providing you have not given out your Personal Identification Number (PIN) to anyone else.

It is advisable to double check this as many banks will only cover unauthorised spending on a card from the date reported stolen and not before. On the other hand, most Card Protection policies will cover you for a limited amount before the missing cards are reported.

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