Smalls: Credit Card “insurance”?
Is the insurance offered by the card company’s worth it? The one that’s .79 cents a month for every $ 100 you have charged? But they say in the event of disability, unemployment….etc you can stop payments for up to 12 months.
It sounds good but do they follow through?
Answers and Views:
Answer by littlemissmay
No I am going through alot write now because of this DONT GET THIS.. they steal your money and screw you over big time. I have been without work for a year I was hospitilized and gave birth to my son who was disabled it took me 8 months to get ahold of payment protector. They then closed my account ruined my score and didnt help me a bit. I am requesting every penny of it back.
Yeah they will follow through on it. Thats IF you can show them enough proof. I got laid off one year and I tried to make a claim, they told me they would send me a form to fill out and return. Yeah right. This form needed to be filled out by my, my employer, plus the states unemployment agency. Just imagine how long that could take. By then I would have returned to work. In my opinion, it would just be better to put the money you would have paid for the insurance onto the principle balance.Answer by redhairedmama75
It’s legit but you have to prove that you are legit as well. You have to activate your benefits in a timely manner.Answer by Bob
They don’t cover much. Usually it’s only waiving the interest during your disability or unemployment; you still owe the money at the end. Sometimes they only defer the payments. Read the fine print. They never pay off the debt.
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