The incidents of credit card thefts and other types of credit card fraud are being reported daily. This cover is also provided if your credit card stole during a trip and also when someone steals your credit card details using third-party apps, phishing, and other credit card fraud types. Here are a few reasons due to which you should purchase a credit card cover:
Zero Liability Protection
Many credit card companies’ plans provide a zero liability protection cover that comes under their credit card fraud prevention policy.
This means that you don’t have to pay a single penny if someone uses your credit card without your consent or permission.
However, you will have to report the credit card theft immediately to get this protection which is not possible especially when the credit card fraud has been done smartly. Therefore, getting a credit card cover is your only hope to tackle such circumstances.
Credit card details
Your monthly credit card report will contain your credit card score and details that have impacted your credit card score negatively.
You need to analyze your credit card reports carefully because they might contain a transaction or negative marking for which you are not responsible.
In such cases, you must respond immediately to reduce the damage or loss caused due to such fraudulent activities.
If you own a card protection plan then you need not suffer from such incidents as your card insurance plan will cover it by default.
Other types of frauds
You can come across many examples of credit card fraud in India. One such credit card fraud India is carried out by fake dating apps that provide free membership on providing your credit card details and then sell your details to a third party who might use it to steal money from your account.
To remain safe from credit card fraud of these or any other type, you can subscribe to the CPP i.e. Card Protection Plan offered by Bajaj Finserv.
By getting this card insurance policy, you will get coverage for all credit card fraud types, and even complimentary protection is provided to secure your financial interests from telephishing, email phishing, PIN-based fraudulent transactions, and much more.
The key benefits of availing of this plan are given below:
Card Blocking Feature
If you notice any unusual activity or misuse of your credit card then CPP allows you to block all your credit cards with a single call. This feature comes in handy if you lose your wallet that contains your credit cards and debit cards.
Card Replacement Feature
Get a free card replacement under CPP, if your card gets lost or stolen.
It also includes free PAN Card replacement services and emergency cash cover to pay hotel bills, purchase travel tickets, or any other emergency that you might face during a journey or vacation.
This emergency cover is provided irrespective of whether you are on a domestic or foreign trip.
It is a budget-friendly card insurance policy as you have to pay only one premium every year. Moreover, it provides additional cover against all types of ATM fraud, online fraud, and phishing. Therefore, you don’t have to purchase separate plans for securing your financial interests from other types of fraud.
A seamless online process is provided for those who want to apply for the Card Protection Plan. Thus, it is not only a feature-packed but also a convenient card insurance plan.