Credit Card Protection Plans

I for one can not stand these credit card protection plans. There seems to be a protection plan for everything now, from electronics, to toys to even just simply living... You get the picture. Credit card protection plan might be good for a few but not for most people. I hate it that whenever I call the credit card company for anything they try to sell you one thing or the other. I recently was signed up to Citi's Credit Protector - why did I sign up? I was in no mood to argue and agreed thinking I'll cancel the next day. Well I cancelled today, just a few days before the trial period. The lady I talked to tried to sell me a more "cost effective plan" i.e. the same plan but at a cheaper price. Sheesshhh, when I told her absolutely not, she got an attitude, cancelled the plan and basically just hung up.

These plans charge you around 85 cents for every $100 balance you have. They try to sell it to you by saying if you pay the balance in full there is no fee. NOT TRUE! I pay my Credit Cards off every month. For the plan to have no fees you have to pay the balance off before your statement CLOSES! So beware. Read the fine print and if you don't charge a lot and pay it off, I don't think you need this type of service.