Credit Card Protection Plan (CPP) - Meaning & Benefits (2024)

FAQs

Credit Card Protection Plan (CPP) - Meaning & Benefits? ›

What are the benefits of credit card protection? Subscribing to the Credit Card Protection Plan can help in better fraud protection, convenient card blocking, and better card safety. Besides that, users also get additional benefits like emergency cash assistance in case of card loss while travelling abroad.

The full form of CPP is Card Protection Plan It is a preventive measure undertaken to curb fraud related to payment cards. CPP works almost like an insurance policy wherein the policyholder can claim the sum insured in case of any financial loss.

A card protection plan is typically an insurance scheme that secures your credit card or debit card from financial loss if you lose your cards. Similar to other insurance plans, you can avail of a CPP by paying a nominal premium usually paid on an annual basis.

CPP helps protect your cards against the risk of loss, fraud, and damages. Card protection plans also offer other useful features. This includes blocking your card with a phone call, emergency travel assistance, and more. Here is a detailed look at all the benefits that CPP has to offer.

Published: November 24, 2023. In modern commerce, credit card processing (CCP) is a crucial element that enables businesses to accept customer credit and debit card payments.

Subscribing to the Credit Card Protection Plan can help in better fraud protection, convenient card blocking, and better card safety. Besides that, users also get additional benefits like emergency cash assistance in case of card loss while travelling abroad.

The outstanding balance on your personal credit card is paid out in the case of death, permanent disability, terminal illness or critical illness. If you become temporarily disabled or cannot earn an income, the plan will pay 5% of the outstanding balance monthly for a limited time.

The Canada Pension Plan (CPP) retirement pension is a monthly, taxable benefit that replaces part of your income when you retire. If you qualify, you'll receive the CPP retirement pension for the rest of your life.

With Card Protection from CPP you can protect yourself and up to four cardholder discovers the misuse or loss and reports it, and up to £100,000 of losses thereafter. Other card providers, including Barclaycard and Argos, are now applying a blanket upper limit of £20,000.

With a 10-year annualized rate of return of 10.9% from fiscal 2013 to 2022, CPP Investments ranked first among national pension funds, and second only to New Zealand Superannuation Fund and national institutional investors.

Is it good to have credit card protection? ›

Bottom line. Credit card purchase protection can come in handy if an item is damaged or stolen soon after you buy it. But there are limits on what is covered, when you can file a claim and how much you can be reimbursed, so it's important to study your card's policy before you need it.

Yes, you will need to pay a premium in case you opt for the credit card protection plan. Can I cancel the Card Protection Plan? Yes, the Card Protection Plan can be cancelled by calling the customer care of the bank. However, you must call the customer care from the registered mobile number.

Also known as service plans or extended warranties, product protection plans can cover defects, accidents, or damage to products and even allow consumers to get them replaced or repaired at no additional cost.

What is CPP? CPP is India's first comprehensive card protection company, which covers the customer's card in the event of card loss or stolen. CPP India is a subsidiary of CPP group headquartered in UK.

Yes, you can cancel your membership anytime during your membership period by writing to CPP at feedback@cppindia.com or calling them on our 24-hour helpline number. However, you are eligible for a full refund if you cancel within 30 days of membership set-up date and no claims have been made by you within that period.

The Certified Credit Professional (CCP) program is structured to ensure graduates are knowledgeable in all areas of credit management. Upon obtaining certification, you may be qualified to manage a credit department in the consumer, construction, mercantile and international industries.

Credit card protection insurance, or credit card balance insurance, helps to pay a portion of your balance (sometimes all of it), because of unfortunate situations like job loss, critical illness, or death. And just like life insurance, it doesn't always make sense to pay for it.

Yes, you will need to pay a premium in case you opt for the credit card protection plan. Can I cancel the Card Protection Plan? Yes, the Card Protection Plan can be cancelled by calling the customer care of the bank. However, you must call the customer care from the registered mobile number.

Yes, you can cancel your membership anytime during your membership period by writing to CPP at feedback@cppindia.com or calling them on our 24-hour helpline number. However, you are eligible for a full refund if you cancel within 30 days of membership set-up date and no claims have been made by you within that period.

Credit card protection insurance is a form of protection offered by many card issuers to help cardholders in times of financial difficulty. It's a way for card issuers to offer cardholders a break from making payments until they get back on their feet.