Protect your credit cards whilst you're away

Keep your cards safe so you don't have to worry

• How credit card protection works
• What you get for your money
• What it's going to cost you
• Is it worth it?

Credit card fraud is on the rise and you are most likely to be targeted whilst abroad. Getting your cards stolen when you are far from home can be scary. Plus the last thing you want to do when you're supposed to be relaxing on holiday is get stressed phoning numerous credit card companies.

If you're signed up to a credit card protection service, they will do everything for you. In fact, all you do is phone them on a freephone number from anywhere in the world, and they cancel all your cards and sort out replacements. The value of your average handbag in the UK is around the £10,000 mark if you factor in the credit limits on all the credit cards. This means that if you are too slow at reporting all the cards, you can stand to lose more money than you actually have. Getting a card protection plan will cover all of this and make life a lot easier if you are targeted by thieves anywhere in the world.

How it works

When you sign up to a card protection service, you register the details of all your cards and precious personal documents, like your driving licence and passport, online. This way the company has all the details that they need to renew, replace and most of all protect, right at their finger tips.

So if the worst happens and your things are stolen or you end up losing your whole bag or wallet, you make one phone call to the card protection service and they know who to call and arrange for present cards to be stopped and replacements to be ordered.

One of the most important things to remember about these insurance policies is that if you don't report the theft/loss within 24 hours of you realising, you will not be covered for fraudulent expenditure.

What you get for your money

You don't just get protection for your cards (even membership cards). Signing up and paying for a card protection service gets you:

• Cover for the cost of replacing your passport and drivers licence
• Cover for the bag or wallet itself (usually with a small excess)
• Key tag and retrieval service - if your keys are found at a later date, the coded key tag will enable the finder to return them to you via the card protection service.
• Cover for lock and key replacement - if your keys don't turn up, they'll foot the bill from the locksmith. This also covers more expensive immobiliser keys and the cost of a hire car or transport.
• Protective registration service - means anyone trying to get credit in your name will be subject to extra checks so hopefully will be exposed as a fraudster.
• Change of address service
• Replacement card service
• Emergency cash advance - wired to you wherever you are in the world to help you cover any outstanding bills
• Cover for you and your family - usually up to five people covered by the same plan
• Cover for any money spent fraudulently using your cards before or after you report them stolen
• Replacement travel tickets
• Lost cash insurance
• Cover for your communication costs if you need to make expensive phone calls and send emails as a result of the theft.
• Help you get temporary travel documents in order to return to the UK or continue on your travels.

What it's going to cost you

Actually, it's surprisingly cheap. The two main players that offer this kind of insurance are Sentinel and Card Protection Plan.

Sentinel offers two levels of cover:

The basic package  - £20

• Cover for all your cards and those of up to four household members (must live at the same address as you).
• £1,500 fraud cover for the period before you report the cards stolen
• £75,000 fraud cover for after you report the cards stolen
• Emergency advance cash
• £200 worth of cover for cash stolen abroad (UK is not covered)

Gold Cover - £29

• This gives you everything you get for the basic cover plus,
• A lock a key service that covers your house locks and keys
• The amount of cover for fraud after you report theft rises to £100,000
• You also get a protective registration service - this provides you with a unique password that you must give when applying for credit. Anyone who is trying to get credit in your name but doesn't know the password simply won't be able to get it.
• You can only get gold cover by invitation. It's often available as part of current account plus schemes and other bank offers.

CPP offers exactly the same deal however, their £29 policy is open to all, so there's no fuss about invitations. Both companies offer the option to sign up for three years for £70, saving you £17. They also let you register online, which means you can access your details 24/7 and change them instantly. With Sentinel, you have to phone customer services so are likely to lose time waiting on the end of the phone.

Most other card protection schemes that are offered by banks and insurance companies are actually run by these two companies. So even though it looks like you're getting it from somewhere else, these two companies are often the mastermind.

Is it worth it?

This will make your life a lot easier if you do lose your possessions, especially if you're abroad. The added bonus is that it covers you whilst you are in the UK as well. It is another precaution if you are using your cards abroad and will help you if you are stranded. However if you are travel savvy and you avoid keeping all of your possessions in one bag, you shouldn't need it. The cost works out at around £2.42 a month - a small expenditure for piece of mind.

Useful links

• Sentinel
• CPP

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