Loan Payment Protection (again)

Cuauhtemoc

Another question on payment protection...

1) I take out a new loan and then want to cancel the payment protection.
Is it as simple as ringing them up and saying cancel or do i need to go in and sign something?

2)The loan i took out in 1 is closing another loan with payment protection, is it refundable on that loan?

3)How easy is it to cancel payment protection on my mbna card?(i'm assuming that its not refundable)

Thanks all.

C.

ekelly

I used to work for mbna selling payment protection. It is easy to cancel if you have strong will. If you call up to cancel they will transfer you to the retention office and a really friendly sounding person will convince you to keep it (and maybe offer a discount ). Be strong and say no. If you read through everything it actually covers, it is not as much as one would think. Credit card companies simply make massive revenue off of this

traspam

I've just come on this forum by chance. I live abroad, and have had a deposit a/c for years.

Can anyone give me any links to any detailed info. ? Do non-residents qualify ?
How are the windfall shares allocated etc

dwayneburke

i had a MBNA card and clicked on payment proection on the website by accident and i then started paying for it

rang up few weeks later and it took 6 weeks to get it cancelled,,,,,got so peed off i cancelled my card and all....

Bleeding impossible (almost)