Tuesday, November 09, 2010
some sort of insurance attached with credit card : catch!
To maximize profit, most of the credit cards offered by different banks come with default somesort of insuracne attached to it. The customer has to pay a monthly fee or a percentage of the total bill. It's a fee that the credit card company realizes literally for nothing. Well it is said to cover your debt if you fail to pay the bill. However there are so many terms and conditions that the credit card issuer will not have to pay much in that case.
To cancel such insurance thing, the customer has to go through some paperwork or phone call. Usually he/she needs to submit an application(in plain paper or in requisite form) to cancel the insurance. In some cases calling the customer help desk may do.
The examples of such insuracne are:
Standard Chartered: safetynet
Eastern Bank Limited: Risk Assurance Program
To cancel such insurance thing, the customer has to go through some paperwork or phone call. Usually he/she needs to submit an application(in plain paper or in requisite form) to cancel the insurance. In some cases calling the customer help desk may do.
The examples of such insuracne are:
Standard Chartered: safetynet
Eastern Bank Limited: Risk Assurance Program
Labels: catch, credit card
# posted by Abu Rashid @ 9:35 AM 
