If you lose your credit card or have it stolen how much money are you responsible for? Know how much you are liable for and avoid the scam artists. Dont be fooled by high pressure phone calls offering worthless protection.
Credit Protection Insurance — Just Another Consumer Rip-Off
Credit protection insurance is a good example of a consumer rip-off that affects millions of people, yet receives little attention in the financial media. Simply stated, you should NEVER buy “credit protection insurance,” or a “payment protection plan” or any other similar type of credit-related insurance. Let’s take a look at how these programs work and why they are a bad deal for the average consumer.
First, let’s dispense with the scam version of this insurance. With id…