CPP Credit Card Protection Plan Review – Useful or Waste of Money
Do you know what your immediate action will be when you know that you have lost other important documents such as your credit card or credit / debit card filled wallet and PAN card.
Or if there is only one thing when you are traveling to another country and you are stuck without money.
A company is a CPP (card protection plan) that can help you. CPP is linked to almost all major banks in India.
CPP’s credit card security plan is just like the insurance plan where they will not only help you block all your lost / stolen credit card or debit cards, but also help you with other emergency needs.
But do you really need this scheme from CPP?
CPP (Card Conservation Plan) review
Here’s my opinion and review about this plan. But first of all, we will see the pricing and profit of the membership provided by CPP.
CPP card security planning pricing and profit
There are 3 types of membership from CPP. The first is an isClassic Single, which is for a person and you will get Rs. 1399 / -, the second premium is joint which is for 2 people (you and spouse), and the third platinum family is for the whole family, which costs you Rs. 2185 / -.
There are many benefits to this membership based on the plan you choose. Some major advantages are: –
- A free call to block all your cards: You can contact your 24 × 7 customer care number in India or anywhere in the world to block lost or stolen cards. They will also help you to block your mobile SIM card.
- Emergency Hotels and Travel Assistance: If you are traveling anywhere in the world *, CPP card security can help you with hotel and travel assistance ** and emergency cash advance **.
- Fraud Protection: All your credit or debit cards are safe against any fraudulent transaction arising from the loss of your card and that starts before 7 days of your card loss.
- And the number of other benefits: You can see this link on CPP India website to find more links.
But do you really need this plan?
Points to consider before buying this plan
Like many others, I hate insurance because people do not trust insurance companies with me. We pay premium regularly, but when the requirement arises, we have so many problems in getting our claim or emergency money.
So will you actually get help or reimbursement from CPP if your card is lost or stolen?
There are many complaints on the number of websites from your customers. You can see one of the reviews on the complaint board site here, where many people are complaining about various problems regarding CPP card security.
Here are some important points to consider before thinking about taking this plan-
- How many cards do you have and what is the card’s maximum credit limit? If you have only 1-2 cards with a lower credit limit then you do not need this card.
- How reckless are you? Generally there is loss or theft due to negligence and if you think that you are suffering from your own view of this in the past, then you can not choose this plan otherwise.
- Do you travel abroad often and are you dependent on your card there? If the answer is no, you do not need this plan.
Now, one day, debit and credit cards are mostly secure, even if they are lost because you have to enter a 4 digit PIN in the offline transaction and a password in the online transaction.
And even if your card is lost, you can contact the card’s personal customer care number and they will immediately block your card.
Similarly, you can contact your SIM card provider’s customer care and they will block your SIM card.
And yes, if it is lost then you can apply online for a new PAN card here.
Therefore, if you consider the points mentioned above, then you can think that most people do not need a CPP card security plan.
And if you really want to go for it, contact your bank and they will guide you how to subscribe for the CPP card security scheme.
** But before subscribing, read all the terms and conditions at least once!