In the UK alone, at least 13,000 store and are lost and stolen every single day, pushing up the chance of fraudulent usage on these cards. This has amounted to a gut wrenching £411.6 million a year being siphoned from misplaced cards, though fraud through the Internet has taken up a considerable amount of this with £109.6 million worth of this coming from payment cards.
So what happens if you have lost one or all of your? Well the likely scenario is that you will be in a panic, as you try to remember ever card that you have lost or had stolen, and report it to the relevant issuers of the cards and to the Police.
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This can take up so much time and effort, as you struggle to try to get all the relevant information to the card companies before any purchases or transactions are made from your card. This can be doubly frustrating if your cards have gone missing while you are abroad.
A way round the worry and frustration is to take out payment card protection, that will mean one phone call to you’re insurer, who will then contact all of the other credit or store card issuers that you will have listed with them for you. This can cost as little as £15 annually and offers a lot in the way of peace of mind.
Companies such as the CPP offer a first-rate service and are highly regarded as one of the leaders in this field. They have put into place a superb array of benefits to help you, some of which include, Legal liability cover of up to £1000 so long as your cards have been reported missing within the time limit of 24 hours.
Other advantages for taking out the insurance cover that CPP provide are, replacement travel tickets if you have lost them with your cards, also they will cover up to the cost of £100 the value of the wallet or handbag that your cards were in.
There are so many more advantages like, replacement cash of up to £100, Emergency hotel payment of £3000 or £1500 each if card is a joint account and emergency cash of again up to £3000 or £1500 if there are two cardholders.
Though
only 3% of all credit and store cards that
are stolen are used in under hand transactions,
lets make it harder for these criminals to
get a hand on your hard cash.
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