You’re basking at a beach or relaxing at home and suddenly your inbox beeps with a mail which reads, ‘You’ve maxed out your Credit Card limit. Did you do this transaction?’ You didn’t. You’re on a vacation and you lose your wallet which had all your cards and documents. Now what? Wish you’d insured your Credit Card and documents with Card Protection Plan (CPP)? Why regret it when it’s too late? Here’s everything you should know about CPP.
Easy Blocking, Easy Replacing
Lost your Credit Card or entire wallet? One free call from wherever you are and you can block all your registered cards. What more? CPP will also help you with the easy replacement of your card.
Kick the Fraudsters
Credit Card details compromised? Well, if you’ve observed some fraudulent transactions, CPP will protect you against any misuse of your card. That’s not all. As an added security measure, the protection begins 7 to 15 days prior to your loss report till the end of your membership.
Deal with Emergencies
Imagine losing your wallet and being stranded in a different city! Don’t panic! CPP will not only assist you with the payment of hotel bills but will also help arrange travel tickets for your return journey. This is applicable even if you are stuck abroad.
Emergency cash advance facility too is available with your Card Protection Plan. The amount of emergency cash available depends on the plan that you have subscribed for.
You can register your important documents like passport, PAN card, driving license, insurance certificates with CPP. In case your lost wallet had your PAN Card, you can enjoy free replacement of lost PAN Card with CPP. The plan also provides assistance with other documents, including passport, even when you are stuck in a foreign country.
CPP generally offers three types of membership: Classic, Premium and Platinum. The cost of the membership depends on the finance institution you buy it from. The validity of the membership is one year, which will be automatically renewed using the payment method chosen by you (unless advised otherwise).
Most institutions offer free cancellation and provide full refund if you cancel the membership within 30 days from the set-up date, without making any claims.
Easy submission of claims
You have to submit all claims within 30 days from the date of reporting loss. To make a claim, you have to get in touch with your Card Protection Plan provider’s Customer Service centre, details of which will be given to you with the welcome kit. You have to request a claim form. After filling out the form, you have to mail it back with the following original documents: Credit Card or Bank Account statement, FIR Copy and Subrogation bond.
Here’s an overview of what your membership covers
Free call to block your cards with a 24-hour helpline desk
Complimentary Fraud Protection
Emergency cash advance
Hotel and travel bill assistance
Registration of all valuable documents
Assistance with card replacement
Lost PAN Card replacement
Now that you know about CPP, you can safely get the perfect Credit Card for you.