Living in today’s world, we have a ton of things in our bag and purse apart from only cash. This includes personal identification documents like driver’s license, and most important things such as debit and credit cards. When you have such things in your purse, losing the purse can become close to a living nightmare. When cards get lost, you would have to contact several banks and make several appointments for the cancellation of the cards, and the request for a new card to your address. Though now there are several online ways in which cards can be cancelled and replaced, it is still a hassle filled process that will take place. This is where the need for credit card protection plan comes in.
Several of the biggest and best credit card issuers agree that having a credit card protection plan is necessary in order to have a safe and secure experience with using a card.
What is a Credit Card Protection Plan?
In simple words, a credit card protection plan happens to be an insurance policy for your credit card. This not only covers your credit card, but will also be protecting all other plastic cards of value in your purse like that of debit card, identification card, loyalty rewards card, etc.
This plan of credit card protection can be provided by a trustworthy card issuer service like the one on a successful and trustworthy website that offers such plans online. One significant point to remember for such card protection plan is that it has to be renewed every year like any insurance policy. A premium for keeping the protection plan active has to be made every year.
How Does a Card Protection Plan help?
After you choose a credit card for yourself after your account, your bank can call you for choosing a credit card protection plan, and if the terms and conditions of the same suit you, you can choose the same for yourself.
Blocking Multiple Cards at one Go
When you lose your wallet, you will not have to call each bank separately for blocking each of your cards. You can simply call your credit card protection plan service provider, and they will do the needful of blocking your card immediately.
Protection from Fraud
It is needless to say, but when a card protection plan is chosen, it automatically comes with a protection from any fraud that might be committed towards the card owner. This plan comes in handy to protect your card in case it gets stolen or lost, or becomes a victim to card skimming. Usually, the losses incurred by you upon losing your card is looked after by the service provider of your card protection service.
Replacing All Lost Documents
If any important document goes missing with that of your card and other items in your wallet, your card protection service can also help in restoration of those documents.
Assistance During Travel
Losing your card or other financial and important documents can be a nightmare, but card protection plan service providers can help in easily gaining back the same by contacting offices in the country you lost it at.