Creditcard protection

Discussion in 'Credit Talk' started by Momof3, Apr 29, 2000.

  1. Momof3

    Momof3 Well-Known Member

    Hi all, just wondering your thoughts about this. I have this on a majority of my cards, and I am wondering if it is worth it. I mean on my higher balances it runs pretty steep every month. your thoughts??
  2. Carreonand

    Carreonand Guest

    Credit Protection and Extended warranties are a racket. It is another way to eat up your dollars.
  3. lbrown59

    lbrown59 Well-Known Member

    It's one big rip off.
    Just add more to the face value of your regular life policy!

    GEORGE Well-Known Member

  5. RichGuy

    RichGuy Well-Known Member

    Re: Credit Protection

    If you read the terms, you find it's almost impossible to get any benefits.

    Unless you die, of course. But then your credit record doesn't matter any more.

    It's a way to get you to insure THEIR risk of YOUR death. With them taking a big commission off the top.

    It's definitely a ripoff. And a huge drag on repaying your balances.

    GEORGE Well-Known Member

    Re: Credit Protection

    Your SURVIVORS may need the MONEY...but it usually does NOT go to pays off the credit card...

    "IF" you die in MOST cases...they write it off and your SURVIVORS pay NOTHING

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