Sunday, February 22, 2009

How to protect yourself from credit card theft or loss?

Credit card/debit card theft or loss may happen to anyone, anywhere, any time. To its worst case, consider a situation where a theft or loss of your wallet happens when you have traveled along with your family to a foreign city and all that you have with you is a little cash for your daily expenses! And that the wallet contains your credit/debit cards, travel documents, travel tickets etc.

The stolen or lost card could end up in mischievous hands and we have been hearing stories of what all happen afterwards. Generous swipings, exorbitant buyings and what not! And the loss of travel documents and tickets would be another nightmare. So is there a service to tackle this? To protect us from the trauma associated with a card loss?

Card Protection is a new service offered in India, which helps credit card customers from the ordeal associated with credit card or debit card loss or theft. In collaboration with CPP Assistance Services, banks such as Kotak Mahindra, Citibank, Standard Chartered, HSBC etc. are offering card protection service for theft and loss for their customers who opt for the service for a nominal fee. A customer can register all his cards, not just the bank's ones, for the service.

All financial and non-financial cards (credit, debit, loyalty cards etc.), fraud protection insurance, emergency hotel and travel assistance, emergency cash assistance etc. are covered under this service. A person who had lost his wallet will just have to call the helpdesk of CPP and they will do the rest; like contacting all the respective banks to block his cards, arranging for the money etc. I guess it’s a good service one can opt for especially the ones who are constantly on the move.

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eddz1949 said...

Identity theft is really widely spread all over the world.
If we cannot stop this, this will result to a big problem of our community. We must protect ourselves from these fraudulent people.

znonconf said...

You are right i completely agree with your views and really appreciate them. But should be more points which are not mentioned here can be found here:

zbvfcomau said...

Right i am agree with your thoughts and the content of the post. If we want to avoid the bad situation then we should build-up our awareness.
Best of luck
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Marietta Bankruptcy Lawyer said...

I had to talk to a bankruptcy lawyer and get my life back on track after my credit card numbers got hijacked and used to order a bunch of stuff I couldn't afford.

What I would like to recommend from everyone is to learn from my mistake, and protect yourself before it happens. Or else you might have to see a bankruptcy lawyer.


Great post

Disability Insurance for Professionals said...

Excellent post and set of ideas.