Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card Protection Plan

    Credit cards have always played a significant role in our lives, be it either for an all-time fund access or just a thing to boast about. Till the time it is safely packed in our wallet, it gives us a sense of purchasing power and confidence. The dreaded moment when you lose your precious credit card, your world comes crashing down. There are many ways to handle this situation if you are not already in the middle of a panic attack. The traditional way of handling this incident would be to call the customer care requesting to block your credit card. However, if you are one of those who take pride in more than one credit card, then the calls could seem endless. Therefore, Credit Protection Plan (CPP) is one of the best options to keep your card safe in advance.

    What is Credit Card Protection Plan?

    Credit Card Protection Plan acts as an insurance plan for credit cards, debit, retail, and membership and retail cards, in case of theft, loss or fraud on the cards. It requires the cardholder to pay a fixed yearly fee to use the service. In India, this service is provided by two service providers - Credit Protection Plan (CPP) and OneAssist. They offer various card protection plans for different cards based on information such as credit limits, etc.

    Features of Credit Card Protection Plan

    Single Insurance Plan: Credit Card Protection services are single insurance plans that offers coverage for more than one card, be it credit card, debit card, PAN card or Driver’s License.

    Economical and One-time Premium: CPP service providers require cardholders to pay a minimal premium yearly for subscribing to the service. The annual premiums for these services are as low as Rs.899.

    Easy Blocking: For subscribing to the plan, all you need to do is register your card’s details. Once registered, in case of theft or loss of card, all you are required to do is call the service provider and all your cards linked to the plan are blocked. You do not have to go through the herculean task of calling each bank, asking to block the cards, in case of loss of multiple cards.

    Card Replacement Assistance: The card protection plan also provides assistance in replacing the misplaced cards.

    Quick Card Cancellation: The CPP service provider connects with the concerned banks of your credit and debit cards in order to initiate an immediate process of cancellation of your misplaced cards. The expenses incurred in unauthorized transactions in case of stolen cards are also paid for, by the CPP service provider.

    Emergency Financial Assistance: If you lose your credit or debit or any other card overseas, CPP services offer emergency cash advance for settling unpaid hotel bills or arranging travel tickets. If you are within the country, emergency assistance from the CPP service provider reaches the cardholder within 24 hours, while if on a trip abroad, it takes about 48 hours to get assistance. There is no interest charged on the emergency cash advance provided you under this plan, however you are required to repay the amount in full within 28 days.

    PAN Card Replacement for Free: You are also eligible for a fraud protection feature under the CPP, where your PAN Card is also protected against loss, theft, fraudulent online use, etc. In this case, the CPP service provider ensures your PAN card is replaced when lost, within the shortest time span. There is no charge for this replacement as it is done by the CPP provider on your behalf.

    Applying for a Card Protection Plan

    Subscribing for a CPP is very easy, it usually involves the following steps:

    • Fill an application form for the chosen card protection plan. Application forms are available online on the service provider’s or banks registered website.
    • Pay the premium amount as per your card and as offered by the service provider. Generally, the premium is required to be paid in full and at the beginning of the plan.
    • Once the service provider receives the premium amount, a welcome pack is sent to the cardholder. The welcome pack comprises of a registration form, confirmation letter as well as terms and conditions of the membership.
    • Cardholder should register each card that is under the protection plan by giving all the details of the cards and sending it back to the CPP provider.

    Things to Remember before Subscribing to CPP

    Opting for a CPP is a great idea, provided you are sure if it will benefit you. Some of the points to look out for, while applying for a credit card protection are:

    • While selecting the card protection plan, ensure you know the list of banks that are tied up with the providers.
    • Find out about all the plans being offered as each CPP may differ depending on the bank as well as your card.
    • Find out the maximum damage loss that you will incur against the plan you are choosing.
    • Also, know the maximum reimbursement that can be availed on your plan.
      

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    Credit Card Reviews

    • HDFC Bank Credit Card
      "Best card"
      0.5 5.0/5 "Blown Away!"
      The services were too good wit this card,this is complimentary card . I am using HDFC bank credit card . I use this card for multipurpose . The card and their services are very good. There is no hidden charges with this card . They need to increase the limit on the basis of usage and transactions.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • Bank Bazaar Credit Card
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with Bank Bazaar has been pretty good and i am using the services of them for the last few months. I came to know about the services of them through a mail which i had got and i had used their website which has been quite convenient in using. Their customer support has also been responsive and has been helpful as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • Kotak Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I am using KOTAK MAHINDRA BNAK card for the past one years and the services which they had provided so far was quite good. There was a good credit limit of 40000 with this card and there has been many benefits which came with this card like reward points and EMI convertion facilities and it has been an annual chargable card as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • ICICI Bank Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      I have been previously using ICICI bank for savings and salary account , i am not happy with their service they have not give me good service , like all time they use to charged me hidden charges without my knowledge, their mobile application is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2019
    • Bank Bazaar Credit Card
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar service through on line, this is my first time i have been using their service, their customer care service is good, they use to follow up with me time to time, their response was good, their website is good, i can get all financial products information over there.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2019
    • Kotak Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken KOTAK MAHINDRA bank credit card for more than a month through an online. On time I received a card there was no issue at a verification process. The credit limit is low which was offered in this bank. They give an offer for one free ticket in book my show.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
    • ICICI Bank Credit Card
      "Good for regular usage"
      0.5 5.0/5 "Blown Away!"
      I am holding ICICI credit card around three years, I started using it for some transactions. The credit limit is good around Rs. 60,000 and they are sending the statement on time. I am okay with the billing cycle and due date, I get payment update on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2019
    • Bank Bazaar Credit Card
      "Its supportive"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is informative and I get good support from their end for any banking queries. When I interacted for the credit card purpose, I got a proper response. Its my first experience I am happy about it, the site is user friendly to browse the options.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2019
    • Kotak Credit Card
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I would say Kotak Mahindra card is good to use and comparatively its better than others. I got lower limit it can be improved but the credit card processing time was lesser to avail the card. They are providing reward points as well on my spend.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2019
    • ICICI Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using this ICICI Bank credit card for the past 6 months.Customer service is not satisfied according to me .Other than this everything is good .The credit limit was good ,have good cash back offers and reward points .There was no difficulties faced so far on submitting the documents .
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 25, 2019
    • Kotak Credit Card
      "Medium"
      0.5 4.0/5 "Great!"
      I am using KOTAK MAHINDRA bank credit card for more than a month which was applied through an online. The verification process was smooth and good. I received a card at earlier. They have offered for a life time free credit card. The credit limit is sufficient to use.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2019
    • Kotak Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am having Kotak Mahindra Bank credit card which i have got through Bank directly .This credit card is very useful to me so far .The limit of this card was good to me i am using this card for the past 1 year .I am comfortable on using this card so far.The service is good to me so far.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 25, 2019
    • HDFC Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have HDFC Bank credit card which was directly applied through Bank.This card i amusing for the past 2.5 years .The credit limit was good and sufficient to me .There are good cash back offers and reward points as well.I have not faced any difficulties so far on using this card .This card is good to use .
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 25, 2019
    • Bank Bazaar Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      This Bank bazaar website was know to me while checking credit score through online .This portal is really doing a vital role in all financial products so far.This is a user friendly one and easy to handle .This portal will give us the details regarding the financial product what we search .
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 25, 2019
    • IndusInd Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I have selected this Indusind Bank credit card since dont have annual fee so choosed and also free card ,The agent gave al information about the credit card process ,I have received the credit card on time and also submitted documents through the agent ,There are cashback offers and reward points but not chekced so far .The credit limt was sufficient .
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 25, 2019
    • RBL Bank Credit Card
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using RBL credit card for long time, they have given me good credit limit they have given me was good and i have been apply for this card through on line and they have not been charging annual fee in this card, as it is life time free credit card like they have given me rewards points up to 2000 points they said if i spent up to that then my rewards points will get waived off.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
    • SBI Cards Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been holding my SBI credit card for long time, they have charged me annual fee in this card , but waived off option is available in this card and i am happy with my credit limit they have given me sufficient limit and the best part in this card is that they provide good offers .
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
    • Axis Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been using Axis bank credit card, they have not charged any annual fee in this card, and the best part in this card was they provide good offers and discount in fuel and i am happy with my credit limit they have provided me and overall service is good.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
    • IndusInd Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I took Indusind bank credit card, their credit limit which they have given to me was good, they use to give good offers in shoppings , on e-portal business they use to give good offers, their mobile application is user friendly, it is life time free credit card.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
    • American Express Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been using Amex credit card from long time, they have not charged me annual fee as it is life time free credit card, i am very much happy with their service which they have given to me, their mobile application is user friendly so far i did not face any issue, even they use to give good offers.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 25, 2019
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