Credit Card Repayments Cover

What does optional Credit Card Repayments Cover - Lifestyle offer you?

Nobody knows what could be around the corner, but with our optional Credit Card Repayments Cover - Lifestyle you could afford to relax, knowing that we could pay the outstanding balance or make your monthly repayments at times when your finances could be under strain.

We could cover more than your minimum repayments each month for up to 12 months in the event:

  • You are unable to work for 15 consecutive days because you have suffered an accident or sickness
  • You are working and become unemployed for at least 15 days (through no fault of your own)
  • You were confined to hospital for at least seven consecutive days or more

In the event of a valid claim, Credit Card Repayments Cover could pay 10% of either the outstanding balance or highest balance (in the preceding statement month) whichever is the greater but no less than £10 up to a maximum of £2,500 a month.

We could also pay off your outstanding balance up to a maximum of £25,000 in the unfortunate event that you should suffer from a specified critical illness or in the event of your death or you become a full time carer for a relative (partner, parent or child).

What's more we could even pay 5% for a month if you have something important happen in your life such as:

  • Marriage or civil partnership 
  • Becoming a parent
  • Becoming an adoptive parent
  • If you buy a property in the UK which is to be your main residence and you are the sole or joint owner
  • If your marriage or civil partnership ends

Life Event Cover could pay 5% of the average highest balance in the 6 statement months immediately before the life event occurs up to a maximum of £1,250. We could pay you 2 life event benefits in any 12 month period.
As with all insurances, terms, conditions and exclusions apply.

Am I eligible for CCRC?

To be eligible for Credit Card Repayments Cover, you must be:

  • The principal cardholder
  • Over 18 but under 65
  • Living in the UK
  • In paid work under a contract of employment and paying class1 National Insurance contributions or self-employed and registered for class2 National Insurance contributions

How much does it cost?

Credit Card Repayments Cover - Lifestyle costs 87p per £100 of your highest card balance each month**. If your highest balance on your credit card remains at £1000 each month then your premium will equate to £8.70 per month or £104.40 over 12 months. The premium will incur interest at your normal APR.
The minimum monthly premium payable is 87p but no premium is due if your outstanding balance is nil at your statement date regardless of the highest balance in that month.
IPT is Insurance Premium tax and is included in your monthly premium.

**your highest balance means the highest level of indebtedness to your lender under the agreement in each statement month.

It is important you read the following documentation for more details:

You may also refer to the Association of British Insurers independent consumer guide to payment protection.

Next steps

If you haven’t already applied for an aqua card, it’s easy to sign up for optional Credit Card Repayments Cover - Lifestyle as part of your application. If you would like to find out more about the peace of mind Credit Card Repayments Cover can give, give us a call today on 0845 601  0436* and we’ll be happy to explain.

If you’re already an aqua card customer but haven’t yet signed up for Credit Card Repayments Cover - Lifestyle, simply call us now on 0845 601 0436* and ask one of our advisors to add it to your account.