Home Personal Finance Is credit card protection insurance worth it?

Is credit card protection insurance worth it?

by TodayDigitNews@gmail.com
0 comment
Become a Personal Finance Expert

Subscribe to our personal finance newsletter three times a week and spend your money wisely.

Delve into the money measures that feel the sass.

Credit cards can offer many perks per read. For example, zero liability fraud protection, cash back, travel points, etc. These benefits are also available on select cards with no annual fee.

Then there are the not-so-free perks you can sign up for. Credit card compensation insuranceWe dug deep to see if this benefit alone is everything. Credit card purchase compensation, refund damaged or stolen items to the cardholder. )

When Credit card compensation insurance, or balance protection, where you pay a monthly premium to your card issuer. Typically 0.85% to 1% of your average monthly balance.if you can’t pay If you need to pay your bills due to a life event such as a job loss or health crisis, the insurance will kick in and cover the minimum payments for a limited period of time.

No late fees or credit scores to worry about, as we process minimal payments. However, your balance will likely continue to accrue interest, and the compensation will only apply to the balance you accumulated prior to the event.

There are several reasons why balance protection is not worth it.First, you can always listen Your credit card company for help when you’re in crisis without it Payment of insurance premiums. Putting those dollars into an emergency fund is probably also a better use of your money. Amex accepts). You can also maintain your livelihood by applying for unemployment benefits through the state.

If you’re determined to get coverage (you’re a die-hard knucklehead), we can’t stop you.Be sure to do the math and research all your options before making a decision. please give me.—Miriam

You may also like

Leave a Comment

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

About Us

We are a group of friends who love to write about the things that matter to us. We started this blog as a way to share our knowledge and experience with the world.

ABout Us


Useful Links

Latest Articles

This type of car is going extinct in 2023 Monkey Bread CDC issues warning about Strep A infections in children

Editor's Picks

Monkey Bread

CDC issues warning about Strep...

20 Unique Bedroom Accent Wall...

Teenage Mutant Ninja Turtles: Shredder’s...

Copyright ©️ All rights reserved. | Today Digital News

Facebook Twitter Youtube Instagram Soundcloud