Card Protection Plan

The card protection plan has yet another scheme called CLASSIC PLAN which helps to protect all your Credit cards, Debit cards and there are differences between Premium plan and Classic plan. Obviously the difference is the Annual Charges which here is One Thousand Four Hundred and Four rupees and this includes (cpp membership fee of 995+ processing fee of 99+ service tax of 10) all the possible charges and one can be sure that there will not be any additional charges.

Again here the protection is for all your credit cards, Debit cards and the details of the plan is as below

Fraud protection
Here for the fraudulent transactions that happens before the report of the card holder is covered up to a maximum of 50,000 rupees and the maximum amount a card will be paid as compensation is 20,000 rupees. For the fraudulent transactions if any after the report of card holder about the card loss is covered up to a maximum of Fifteen lac rupees. This fraud protection starts seven days before the card holder's report of card loss and extends to any period after the report.

Hotel, Travel Ticket replacement Assistance
After the card loss if the card holder is traveling or out of station, he, if needed can get Eighty thousand rupees as hotel assistance if he is abroad and Forty thousand rupees if he is in India. The card holder can also get Travel ticket replacement assistance up to a maximum of Eighty thousand rupees if he is in abroad at the time of card loss and if he is in India he can get up to Forty thousand rupees as travel ticket replacement assistance. These assistance can can be paid back in 28 days of time without interest.

Unlike premium plan there is no emergency cash assistance offered and again this benefit offers protection where ever the card holder is in the world at the time of card loss. Though the plan seems beneficial an inner intuition will tell you that there are lot of drawbacks and the discussion of the drawbacks is postponed to upcoming discussions.