Hello Just received a new chip and pin card from Mint (formerly RBS Advanta) and when I called up to confirm receipt of new cards was asked whether I wanted to take out a policy to protect me against a long list of things including fraud...I said to the operator that I assumed they already offered full protection against fraud as other cards do, without my having to buy a policy to make sure. She was very evasive and I couldn't get a straight answer...any comments anyone?
TIA
Normally the cardholder is liable for the first 50 of expenditure if their card is used by a thief, but this is only applicable if they fail to promptly notify the card issuer that the card has been stolen. Once they have notified the card issuer the card will be stopped so the thief should not be able to use it except for low value transactions, which would be unlikely!
Normally these insurance policies will cover that first 50 which is not protected by default, but then you have to consider how often you are likely to have your card stolen. I have owned dozens of credit cards over the last
20 years and have not yet had one stolen, even though I travel a fair bit, but the policy may be of use to someone who is *very* careless with their card.
I would seriously doubt it, any such policy is bound to have a disclaimer re carelessness.
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