Ask the Readers: The Card Protection Program

by Vinaya HS on September 20, 2010

in Finance

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What do you think of the Card Protection Program India?




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 5 comments… read them below or add one }

Deepak September 20, 2010 at 10:43 PM

The Card Protection Program is a fantastic option for preventing fraud of one’s plastic money. In my case, I only own a debit card from Axis Bank and wanted to protect this card. CPP informed me that they could cover my entire set of cards (debit and credit) provided I had at least one credit card. It’s not possible for them to process my payment using my debit card as they need a credit card number for completing the phone payment process. So, as much as I wanted to get my single debit card protected under this program, I was unable to avail this service :(

Still, I recommend all you folks out there to get wise and protect your plastic card from undue abuse.

Vinaya H S September 21, 2010 at 8:53 AM

Deepak,

Thanks for sharing your experience.

Boomboom September 24, 2010 at 12:18 PM

The fees for CPP in my opinion is low for the entire year. Though I have never ever lost a card, I can never positively predict it wont happen in future. So I have opted for it for the past 2 years. I know I have never called them in an emergency as it has never happened to me but I dont mind paying that fees if that gives me some sense of protection.

Vinaya HS September 24, 2010 at 1:48 PM

At the time of writing this analysis, the vote’s pretty even. Personally, I never carry my credit card in my wallet. Only a debit card with a low balance. For me, the premium for card protection isn’t worth it.

Sandriano September 28, 2010 at 11:36 PM

@Deepak,

Thanks for sharing your experience. That was helpful.

Regards,
Sandriano

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