Cardguard or credit card theft protection

A question about : Cardguard or credit card theft protection

Hi,

I wondered what Martin had to say about cardguard schemes. CPP currently charges Ј20 per year to protect against you getting bank and credit cards stolen. Is it worth it? Are there any cheaper/better alternatives out there?

I see that there was a thread discussign this but I haven't seen any input from Martin himself on this subject.

Best answers:

• If your card is stolen, you are only liable for the first Ј50
  The question is, do you consider piece of mind worth Ј20 a year?
• Hi
  I was just going to post this same question. My annual card protection with Sentinel is due (Also Ј20) and Im wondering if it is worth it or not. Are debit cards protected the same as credit cards, if you dont have this sort of protection?
• Being cynical, does accepting this make you more likely to be accepted for a card if its a borderline decision?
• Whenever I've had fraudulent transactions on an account then the bank have always refunded me. I don't see the point in paying extra for something I don't need.
• :rolleyes: We've been with Barclaycard Sentinel for many years, last time in 2004 paying Ј39 for three years of cover. Today we have received our renewal notice for "Sentinel Gold" (and new and higher level of cover) for Ј70 for three years. When I rang and asked if we could just continue with the level of cover we currently have, I was told I could for Ј50 for three years. There was no mention in many pages of literature that this was an option.
  Now I'm wondering if there is a more cost effective form of cover. What other companies provide Cardguard Schemes?
• If you find other more cost efficient schemes let me know please.
  I am in the same position ... I think the the Ј70 quid option for Sentinel Gold is outrageous !!
• I today have received a renewal for my Sentinel which had become this 'Gold' package for Ј70 (3 years). When I phoned to say this was far too expensive the lady I spoke to tried very hard to convince me the benefits of taking up this cover, and only when I insisted that I was not prepared to pay this amount did she tell me that I could continue with my existing cover for Ј50 which is what I paid 3 years ago. Again, there was no indication on the renewal letter and enclosed documentation that the lower priced policy was still available. Very naughty of them!
• Beware CPP, they will try to use their ambiguous Ts&Cs against you if a claim crops up. Make sure you read the Terms and Conditions and you'll soon see they offer no additional protection over that of the banks/building societies. Not worth it at all in my opinion.
• Heres one from Nationwide for Ј12/year or Ј29/3 years !!
  Click Me for more info
  Im not sure wether you need a nationwide card or not but its a good price !!
  I dont use CCP but maybe someone could let us know wether its a good policy or not !!
• Card Fraud:
  The following are scenario's.
  1. You card is PINched and used in a shop or at an ATM with your valid PIN.
  (You may get into a disputed transaction with your card issuer - CCP and I'm sure CardGuard won't pay up and if and when the dispute is resolved - you the victim will have your money returned from your card issuer).
  2. Your card is cloned and used with a valid PIN at an ATM in UK Or overseas.
  (You should get your money back)
  3. Your card is used and your signature forged.
  (You'll get your money back. If anybody knows of a victim where a signature was used to authorise a transaction and the victim held liable, please let us all know. It could be an all time first).
  3. Your card details are used.
  (You should get your money back)
  Here are extracts from the Banking Code.
  10.2 If you do not recognise a card transaction which appears on your statement, we will give you more details if you ask us. In some cases, we will need you to give us confirmation or evidence that you have not authorised a transaction.
  12.12 Unless we can show that you have acted fraudulently or without reasonable care, your liability for the misuse of your card will be limited as follows:
  If someone else uses your card, before you tell us it has been lost or stolen or that someone else knows your PIN, the most you will have to pay is Ј50.
  OR
  If you card details were used (card not physically presented to a retailer) then:
  12.12 (continued)
  If someone else uses your card details withou your permission, and your card has not been lost or stolen, you will not have to pay anything.
  Weigh up the pros and cons. INHO, almost a no-brainer. Check with your house insurance, probably covers you for everything else.
• BEWARE OF SENTINEL T's & C's....
  I found this forum while searching for the Sentinel Gold website and its very worrying to find that a forum discussing their questionable activities actually ranks higher than their corporate website. Type 'Sentinel Gold' in to Google UK and this comes up top whereas any corporate site belonging to them doesn't appear to be ranked highly at all.
  Unfortunately I have been billed by this company against my consent and I'm certain now I won't get my money back regardless even though I have no need for their service, which after research appears to be more expensive compared to other companies in payment protection sector. I regret to say I didn't study the T's and C's as closely as I should've done ie. *** extremely carefully *** and I advise ANYONE thinking of joining this company to do the same and to also LOOK VERY CLOSELY at what other card protection agencies can offer in comparison this organisation.
• I just tried to get the old cover from Sentinel today and they advised me they cannot offer the £50 deal anymore. They say I have to pay the £70 or cancel the policy. Just had a look at their website and they are still offering the £50 deal with no mention of the Gold cover for £70 at all????
  Getting worse by the day!!
• You certainly wouldnt take it out for the fraud protection as anything they cover a bank will
  They do offer some other services but these are upto yourself such as cancelling all your cards ( which they often take hours to do risking your bank being touchy about dealing with any fraud), passport/driving licence/key insurance which your house insurance covers.
  I personally wouldnt say its worth it, but i suppose if you have the cash it might save yourself some time cancelling cards if they are ever stolen but the warning has to be attached that your bank might wash their hands for use between you realising and the cover actually bothering to call them
• I rang Sentinel today after seeing a payment for Ј70 on my latest credit card bill. I had completely forgotten I had subscribed and I must have last renewed in 2004. Fortunately their number was printed on the credit card bill entry! I have not received any documents or contact from them this year but all I could achive was an offer to cancel the contract from 2010. My Ј70 is most definitely non refundable. Their continuous payment authority being from the original signature in 1989! Beware continuous payment authorities.
• Found this while debating whether the Ј50 to renew Sentinel cover is worth it now we are DFWs. (nb No mention of Ј70 cover, so thanks for those who phoned up to argue, they obviously got the message!)
  The reason I am dithering about this renewal:
  I had my card wallet stolen 3 years ago - pre chip &pin. It had a sentinel sticker on it and the police thought that was one reason the cards were untouched. When I phoned up to cancel the cards, the female CS operator was really kind - I was in quite a state. At the time the reassurance was worth a lot.
  But, Ј50 is Ј50 - and I now only have 2 credit cards!
  Any advice?
• If you only have two cards, how about simply writing the respective numbers for the cancellations line/theft hotline or programming them into your phone/writing them down somewhere? Bear in mind most credit cards protect you in the event of fradulent use, so Sentinel's identical protection against fradulent use isn't really relevant.