Know About Card Protection Plan And How It Helps If Credit And Debit Cards Are Lost

Card Protection Plan

A card protection plan covers a customer's card in the event of loss or theft of the card

Debt and Credit Cards

Even though digital transactions have largely replaced card transactions, it is advisable to take a card protection plan to reduce the risk associated with misuse of one's cards in the event of a loss or theft of the card 

How It Works

You have to call the card issuing bank to have the lost card blocked to prevent its misuse

To Call

For calling the card issuer, you will have to dial the STD code of the local city before dialing the helpline number

Benefits

A cash compensation is provided to premium and platinum cardholders. A lesser amount is provided to classic cardholders

Phishing and online fraud

A cover of 15 days is provided against phishing and online frauds in case of loss or theft of one's card

Compiled by Syed Muskan