Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card BYTES FROM OUR KITCHEN

    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.

    Credit Card Reviews

    • Bank Bazaar Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Mobile application and website of bank bazaar is great easy to use . Overall it has been great experience with bank bazaar . The customer service of bank bazaar is great they are explaining about the product very well . If there is any query they will resolve quickly .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • ICICI Bank Credit Card
      "Average"
      0.5 5.0/5 "Blown Away!"
      My credit card was taken with ICICI BANK . They offered me a very low limit . It has got Cash back offers . Customer support is also good.I am holding this card for past few months and never had any issues with their services. Thee is no joining fee here with this card .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • HDFC Bank Credit Card
      "Average performance credit card "
      0.5 4.0/5 "Great!"
      In the last two year , I am satisfied with the HDFC credit card . Obtaining various offers and discounts in on-line shopping . Offers varies from time to time . Downloading the statement is easy in HDFC app . A normal interest rates and satisfied credit limit . HDFC never do any Hidden charges .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • SBI Cards Credit Card
      "Annual fees is very higher and No offers "
      0.5 1.0/5 "Really Bad"
      SBI credit cards always offers a very high Interest rate . For the past 1 years , I am not getting any offers and discount in the on-line . I am somewhat okay with the credit limit . Annual fees is around 700 /- . Since , I am not getting any offers , i thought of canceling this card .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • Axis Bank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      AXIS BANK credit card i am using it since from last few years and i am facing with no issues with this card added on that the card has satisfactory credit limit. I am getting good offers with this card. The billing option is easy with no hassle process and it is comfortable to use.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 20, 2019
    • HDFC Bank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am holding the credit card of HDFC BANK which is a user friendly card to access also the card is good and hassle free to access. The credit limit with this card is good and it is satisfactory with this credit card. The offers also good with this card which is sufficient.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 20, 2019
    • RBL Bank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am not facing any issues with the credit card where i am holding it with the RATNAKAR BANK they have offered with the satisfactory credit limit with this card added on that there is are sufficient offers with this credit card which is good with this card.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 20, 2019
    • IndusInd Bank Credit Card
      "Interest rate is need to be low & not getting any offers"
      0.5 2.0/5 "Expected more"
      I find no problem with Indusind credit card process in on-line . i got the card within 7-10 days of time and docs were submitted in on-line & off-line for verification .It is a life time free card . I am Not getting the regular offers and Interest is rate is Quite high .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • RBL Bank Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I am using this credit card for the last six months and the services which they had been providing so far has been pretty good. The credit limit with the card has been good and there has been an annual charges of 499 with this card as well. I had been using the card for all purposes.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • Bank Bazaar Credit Card
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      It is a good experience with Bankbazaar.com, as they were on time to contact me and inform me the details. They also followed up in the process. The website is good and it is easy to use and understand. It is informative. In all there are no hassles.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • American Express Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      The customer service is very good at Amex Bank. The credit limit is not satisfactory, it is pretty low. I got a limit of 50K only. There are annual charges for the credit card which gets waived off if I use the card to a certain limit. The best is the reward points.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • ICICI Bank Credit Card
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had taken this credit card almost ten years back and i had closed it since because of the higher interest rate with them. The services which they had provided has been fine and the credit limit with the card has also been good. The annual charges with this card has been reasonable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • SBI Cards Credit Card
      "Good shopping card "
      0.5 3.0/5 "Satisfactory"
      i am using Sbi credit card more than 8 months. The annual charges for this card is Rs. 499 if i spend some amount annual charges will get waived off.This card comes under a life time free credit card. Credit limit they given only Rs. 35000 i am not happy with the credit limit. Customer services and responsiveness is okay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 20, 2019
    • HDFC Bank Credit Card
      "Need to increase credit limit"
      0.5 3.0/5 "Satisfactory"
      i am using Hdfc Bank credit card more than 1 year. This card comes under a life time free credit card. Credit limit they given only Rs. 35000 i am not happy with the credit limit. Customer services and responsiveness is okay. I am not getting any special offer from Hdfc card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 20, 2019
    • ICICI Bank Credit Card
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I am using this credit card for the last couple of months and the services of them has been pretty good. But the credit limit with the card was only around 18,000 which is very less. They had made a charge of 5000 for the over limit spend which is not that good. I just used the card for some purchases.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • ICICI Bank Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am holding the credit card with the ICICI BANK the card has the satisfactory credit limit also the card is life time free card also it is user friendly with no issues with this credit card. They provide with the sufficient offers which is very good than others.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 20, 2019
    • American Express Credit Card
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have been holding the credit card with the AMERICAN EXPRESS BANKING CORPORATION the credit limit with this card is very good as it is user friendly also it is user friendly to access. There are good offers with this card which is sufficient with this credit card.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 20, 2019
    • Bank Bazaar Credit Card
      "CONVENIENT PORTAL TO USE"
      0.5 4.0/5 "Great!"
      It is the first time experience with the Bankbazaar.com as i have a very good experience with this portal also i am using it through both the website as well as the mobile application it is easy to use also it is convenient to access also it is with hassle free to use.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 20, 2019
    • IndusInd Bank Credit Card
      "GOOD"
      0.5 4.0/5 "Great!"
      I have been applied with the INDUSIND BANK credit card the documentation process was simple and also it is easy to access. I got the credit card with the 20days. The credit limit with this card is good and also it is free credit card. I have not tried with the offers with this bank credit card.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 20, 2019
    • IndusInd Bank Credit Card
      "I am happy with the Credit card "
      0.5 5.0/5 "Blown Away!"
      Indusind bank given me a life time free credit card . I applied in on-line process , I find it easy procedure to follow . Verifications of documents in on-line and No Annual fees has been charged . Not getting enough offers for the newly purchased customers .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
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