Credit Card Forum
  1. #11
    infomaniac
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    Quote Originally Posted by Pete838 View Post
    By adding the insurance they extract an ADDITIONAL $534 if your balance stays at $5K. That is equivalent to an additional 10.38% interest at $0.89 per hundred of your balance!
    If only all Americans had the common sense to comprehend this.
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    Reply With Quote Reply With Quote     Jan 8, 11, 2:35 pm
  2. #12
    Mogul of Pineapples
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    Discover recently got in trouble for offering these services as another poster pointed out.

    Discover disceptive practices / NYTimes story
    Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.

    Current Cards:     American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
    Primary Everyday Card: American Express Blue Cash
    Primary Travel Card: Citi Thank You Premier
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    Reply With Quote Reply With Quote     Jan 14, 11, 8:03 pm
  3. #13
    dmband
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    I used to work in retail so I know the credit protector plans are the biggest rip offs ever but I have had Lifelock for over a year mainly because I was afraid of a pyscho I dated doing something crazy but what are your opinons on this service?
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    Reply With Quote Reply With Quote     Jan 19, 11, 1:48 pm
  4. #14
    mohegan
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    Quote Originally Posted by Mogul of Pineapples View Post
    I completely agree with jeffysdad. There is no reason to pay for credit card fraud insurance in the USA, where we have laws which limit liability to a max of $50 per account.
    What do you mean there are laws that limit Liability of max 50.00 per acct..? Do you mean for charge-backs..? who would give this..? I was scammed with two expensive charge-backs last December 2010 that were for almost 5k, how can i protect my self from this happening again so i can resume doing business online as most of my equipment purchased is 2000+ each item..?..? thx in advance.. Phil
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    Reply With Quote Reply With Quote     Jan 21, 12, 9:46 am
  5. #15
    Pete838
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    Quote Originally Posted by mohegan View Post
    What do you mean there are laws that limit Liability of max 50.00 per acct..? Do you mean for charge-backs..? who would give this..? I was scammed with two expensive charge-backs last December 2010 that were for almost 5k, how can i protect my self from this happening again so i can resume doing business online as most of my equipment purchased is 2000+ each item..?..? thx in advance.. Phil
    The subject is protecting the consumer from fraud, not merchants.

    Charge backs are a problem for merchants. Did the CC company give a reason for the charge-backs?
    Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
    Ronald Reagan
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    Reply With Quote Reply With Quote     Jan 22, 12, 6:59 am
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