i have just recieved a credit card from capital one,and they have just asked me to pay £49 to cover me for 3 years for theft and money loss of total up to £70.000 am i covered any way or should i take out this cover
2007-02-28 03:05:37 · 15 answers · asked by Anonymous in Business & Finance ➔ Credit
The cover is optional and entirely up to you.
2007-02-28 03:08:42 · answer #1 · answered by ? 2 · 1⤊ 0⤋
It depends on the laws for unauthorized use in the country you are from. The United States has laws authorizing responsibility that is widely known, so I won't go into that here but I am not sure about the UK or the policy of Capital One. I would find out the laws in your country and get the disclosure statement from Capital One. I am not saying the insurance is necessarily bad, but maybe you can horse trade with them. Will they give you 18 months for 20.00. Can you pay that over a couple of billing periods. If you pay the full amount will they give you better terms on the credit card, like lower interest rate or waive any annual fees?
Unfortunatly more information is needed to help you and I may have raised more questions than answers but I don't believe you can make this deceison any other way.
Good Luck
2007-02-28 03:36:06 · answer #2 · answered by teenriodoll 3 · 0⤊ 0⤋
I wouldn't do it. In the States, most charges from theft are covered by the Card Issuer after the cardholder pays $50.
2007-02-28 03:10:15 · answer #3 · answered by ropman1 4 · 0⤊ 0⤋
NO don't!! I'm paying a set amount on my credit card, I haven't used it in ages but by the time the insurance comes off - before interest! I've only paid half the monthly payment! I have however asked to cancel the insurance, but they're taking their time in sending me out the form!!
2007-02-28 03:20:28 · answer #4 · answered by ~Kitana~ 4 · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-03-03 03:31:23 · answer #5 · answered by gabriel jones 4 · 0⤊ 1⤋
No I dont think your covered anyway and its better to take out protection insurance in case of a job loss or anything
2007-02-28 03:09:58 · answer #6 · answered by debpcox 1 · 0⤊ 0⤋
I have a capital one credit card and they always charge me an extra fee at the end of the month for "insurance". My advice would be DON'T GIVE YOUR MONEY AWAY!
2007-02-28 03:12:46 · answer #7 · answered by mike 2 · 0⤊ 0⤋
I wouldnt even take a Capital one Card they hound the life out of you - try another provider
2007-02-28 03:14:25 · answer #8 · answered by adam 2 · 0⤊ 0⤋
Yes you are covered without paying more, don't be fleeced by them. Tell them it's not needed!
If your card is lost or stolen, as long as you tell them as soon as possible, you are not liable for any money taken out. If you are subject to fraud, contact their fraud office they will help out as much as possible, all at no cost to you. Good Luck.
2007-02-28 03:11:59 · answer #9 · answered by MellowMan 6 · 0⤊ 0⤋
Don't pay for that insurance. It's crazy. They want you to pay them for insurance to pay them if you can't. And apparently there's so many loopholes, the insurance never pays out. Big scam.
2007-02-28 03:09:22 · answer #10 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋