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

    • Bank Bazaar Credit Card
      "USERFRIENDLY PORTAL TO USE"
      0.5 4.0/5 "Great!"
      It is the second time experience with the Bankbazaar.com as i am using it through the website as the portal is convenient and user friendly portal to access. The customer support and responsiveness is good by explaining the details of the card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2019
    • YES Bank Credit Card
      "Highly disappointed with the credit limit"
      0.5 1.0/5 "Really Bad"
      Yes bank has given the very lesser credit limit of only 33 thousand. But while purchasing the card they said they will provide up to one lakh as a credit limit to me . This is completely miscommunication has happened to me . I am going to cancel this card very sooner .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good reputations in Digital market"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar has good reputation in the online market . Customer can have the trust and login in with their personal information in the portal . I got a earlier call from them for the Credit card proceedings . They have chosen the correct card and dispatched on time to me .
      Was this review helpful? 0
      , indore
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very good"
      0.5 4.0/5 "Great!"
      This is life time free card no need any annual charges and in this card cash back offer but not much sometime got cash back last five month above I have ICICI bank credit card and I am satisfied with credit limit 45K and their customer service is good and response is also good , I am happy with this credit card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I got credit card within 7 days after approval , this is chargeble 500 rupess and here rewards point offer , reacently I got american express credit card , I am satisfied with credit limit 50K , and their allover service is good , I am satisfied with this card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It is the first time experience with the Bankbazaar.com as i am using it through the mobile application as the application is convenient and user friendly to access. The customer service is good and they are responsive as they explain the details of the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Average card"
      0.5 3.0/5 "Satisfactory"
      I have STATE BANK OF INDIA credit card . They offered 10000 of limit but i need 30000 so i am not happy with that . Offers is nothing very limited only i ma getting reward points .There is joining fee but once i do the transaction of 30000 the fees will be waive off .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      For couple of months i am using bank bazaar website . The whole application process was smooth and hassle free. I never had any issues with the services. The customer support follow up was also effective during the application. Only when i call them they are not responding .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I am using the AMEX CREDIT CARD for a very long time where the services had been quite good. The credit limit with this card is sufficient and there is some added benefits in using this card as well. The card is a life time free card and i am using the card for all sort of purposes. There has been some good reward point system with this card and the cash back offers are also good with the card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • IndusInd Bank Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I hold INDUISND BANK credit card , i was using this past 1month . They charge very reasonable interest rate and they have not charge me any annual fee which is good . Offers are good here in restaurants , traveling , reward points . This is good card and useful too .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been more than five years since i am using the SBI CREDIT CARD, the best thing with the card is the reward point system which it has. There is a good credit limit with this card and there has been some annual charges as well. I am using the card for all sort of purposes where i am getting some very good benefits by using it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been six years since i am using the ICICI BANK CREIDT CARD, the services of them has been good where there has been some very good offers they are providing as well. I am happy with the credit limit with this card and i am using the card for all sort of purposes like shopping. There is a good cash back offer which i am getting through this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The documentation process was smooth and simple with the applying credit card from AMERICAN EXPRESS BANKING CORPORATION, it is a payable for the first year of 500 rupees. The credit limit is good. I got the card within week. I am not using the offers from this card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of BANK BAZAAR for the last two to three years where the services of them has been quite good. I had been using their mobile application which is having a good user interface, their customer support team has also been responsive where they had been helpful while getting my credit card through them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken the HDFC BANK MONEYBACK CARD since there is offers with this card on some online shopping portals. The process in getting this card was simple and easy, the card also was delivered on time. There is some annual charges of 500 with this card with a waver off option. I am satisfied with the credit limit with this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the SBI CREDIT CARD for a long time and the services with them has been quite good, i am satisfied with the credit limit with this card and it has some good reward point system, based on that i am using it for multiple purposes. There is also some annual charges with the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Standard Chartered Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a long time since i am using the STANDARD CHARTED BANK CREDIT CARD, where i am quite satisfied with the services provided by them. It has a good credit limit and there are added benefits with this card where i am utilizing it accordingly. The has not been any issues faced with the banking services of them so far and i am using the card for many purposes according to the benefits provided by them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Citibank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been over five years since i am using the CITI BANK CREDIT CARD, i am happy with the services provided by them. There has been some good benefits in using the card which mostly comes like reward points while purchasing fuel. There is some annual charges but if i am using a certain limit it will get waved off.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the HDFC BANK CREDIT CARD for more than six years where the services had been really good. The credit limit with the card is good and there is some benefits with this card which comes like reward points and cash back offers. The annual charges with the card will get waved off as per the usage.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I was just looking in the INTERNET and came to know about the services of BANK BAZAAR, where initially i checked my credit score through them. The web portal with them is quite convenient in using and their customer support team is also really responsive. I had also applied for my credit card through them where the experience in getting my card has been easy.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
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