http://blog.lendingclub.com/2009/03/28/credit-card-protection-plans/ The Official Lending Club blog Sun, 29 Jan 2012 13:31:47 +0000 hourly 1 http://blog.lendingclub.com/2009/03/28/credit-card-protection-plans/#comment-1324 Jeremy Sun, 29 Mar 2009 04:56:23 +0000 http://blog.lendingclub.com/?p=1075#comment-1324 I got two calls from two different credit card issuers recently in regards to credit card protection plans. I refused to listen further the moment I knew the purpose of the call. I've nothing against credit card protection plans except I pay my balance in full every month. And I only use my credit card for small spending such as groceries instead of expensive luxury items. So I don't need it. They are prospecting on the wrong cardholders. Those carrying balances would be much better and appropriate prospect. Many have forewarned add-on such as credit card protection plans is how the credit card issuers making money of their credit cardholders. From my prospective, if you got a need, where you are carrying substantial balance every month, you may want to look into the plan. And I agree with your call to compare the costs of the credit card protection plan to an equivalent life insurance policy I got two calls from two different credit card issuers recently in
regards to credit card protection plans. I refused to listen
further the moment I knew the purpose of the call. I've nothing
against credit card protection plans except I pay my balance in
full every month. And I only use my credit card for small spending
such as groceries instead of expensive luxury items. So I don't
need it. They are prospecting on the wrong cardholders. Those
carrying balances would be much better and appropriate prospect.
Many have forewarned add-on such as credit card protection plans is
how the credit card issuers making money of their credit
cardholders. From my prospective, if you got a need, where you are
carrying substantial balance every month, you may want to look into
the plan. And I agree with your call to compare the costs of the
credit card protection plan to an equivalent life insurance policy

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