credit card protection fees?
Sunday, June 20th, 2010 at
7:17 pm
Is it really important to pay $9.99 to YOUR credit card company to make sure no one uses your card? Or is just a scam in California?
When they already call when you when a purchase an item of Big $$ when you normally wouldn’t. So when an UN authorized person trying to make a LARGE purchase and this has not been your practice of spending BIG dollars on a credit card at all , or ever at once especially if your 82 yrs old. Is it REALLY necessary to have?
Or is something everyone should do?
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by law credit card companies must protect u against fraud for almost all circumstances.
the card protection fees they charge are for the ‘other’ circumstances, which vary by bank but which are VERY unlikely to happen to you.
trust me, it’s a way for banks to rip people who don’t know the legalities of banking off…
It is a waste of $9.99 month
Put that money to better use.
Shadow is correct. For most people, the protection is not needed–sort of like those extended warranties offered when you buy certain items. They are simply another way for the credit card companies to earn money.
No. Some cards have this feature already @ no fee. check the site/contract of your CC provider. Citi offers one of the best terms.
go for identity theft monitoring if that’s what you’re afraid of.
All those protection fees, including the ‘insurance’ ones that pay if you lose your job, are a complete waste of money. They are very profitable for the banks, so they will push hard to get you to sign up.
In most cases, they really do little or nothing for you, even if you have the exact situation listed in the terms — the old cartoon insurance that only covers fires during a elephant stampede on Tuesdays.