Credit card protection

Our Online Card Buys *

	Typical APR Variable	Max Int Free
	8.5%	56 days
	8.8%	56 days
	14.9%	56 days
	14.9%	56 days
	14.9%	56 days
* Based on Lowest Standard Rates and is not a full search of the whole market

More Credit Card Tables

 

When you take out a credit card , or loan of any kind, you will normally be offered Payment Protection Insurance ( PPI ).

This credit card protection will pay your debt if your circumstances change and you are unable to repay it. For example, it could come in handy if you are made redundant, suffer a serious illness or an accident. But compare conditions carefully when taking out a policy, to make sure you understand the clauses and that they suit your circumstances. For example, the self-employed are typically excluded.

PPI will only pay out for a set period of time - usually between 12 and 24 months. There is also a waiting time for payments to begin if you do claim on your credit card protection policy.

Also make sure to shop around, as costs vary widely in this competitive market. Credit card protection can be taken out at the same time as the credit card itself, but it can also be bought at a later date. Stand-alone payment protection products can also be purchased from direct providers rather than your credit card provider.

Last Updated: May 2007 © Moneyextra.com

MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.