CPP, Card Protection Plan, closing
Posted: January 21st, 2024, 12:51 pm
I've had a card protection plan with CPP for many yonks (decades actually) and just got a letter saying they're closing down that business and it won't renew. On a google it seems that was decided a couple of years back and they're just running it down by not renewing policies (which are 3 year ones) as they reach their end.
The main attraction for me was the ability to have all my cards cancelled and reissued in a single phone call, should they have gotten stolen/lost/destroyed, along with some of the other assistance benefits (which have shrunk over the years).
I must admit I've ummed and ahhed about whether it was worth having (at £23.33pa) for many years, but on a combination of that feeling that it always rains the day you forget to carry your brolly (or more appropriately, something bad happening the day after the insurance you didn't renew lapses) and sheer lethargy at looking into alternatives (including reading the fine print for the home insurance to see how much overlap there was) I've just let it renew each time (it's on a direct debit).
So, now I'm going to have to think about it. Anyone else in the same boat re CPP? And if so, what were your choices?
And in general, CPP or not, do you folks use such products, if so from who, or just not bother about such things?
The main attraction for me was the ability to have all my cards cancelled and reissued in a single phone call, should they have gotten stolen/lost/destroyed, along with some of the other assistance benefits (which have shrunk over the years).
I must admit I've ummed and ahhed about whether it was worth having (at £23.33pa) for many years, but on a combination of that feeling that it always rains the day you forget to carry your brolly (or more appropriately, something bad happening the day after the insurance you didn't renew lapses) and sheer lethargy at looking into alternatives (including reading the fine print for the home insurance to see how much overlap there was) I've just let it renew each time (it's on a direct debit).
So, now I'm going to have to think about it. Anyone else in the same boat re CPP? And if so, what were your choices?
And in general, CPP or not, do you folks use such products, if so from who, or just not bother about such things?