Security against loss of credit cards and convenience of blocking them at once

Credit cards provide us a wide range of flexibility and options which have made these cards an integral part of middle class and upper middle class people in India. With the convenience, also comes the vulnerability of credit card misuse through frauds and theft. Most people who hold credit card in India hold more than one and when they lose it or misplace it they seldom realize often noticing they have lost their card only on seeing monthly statements.

Consider a situation where you are running for your flight and in the neck moment find that you have lost your wallet with few credit and debit cards. The options for you are to call all the credit card customer care lines and intimate them to block your card. But it is not as easy as you say. First you must remember your credit card number, your card end date, some banks even ask for last 2 transactions, the day which you lost the card and few more questions to verify your personal identity before blocking the card. Not to forget that you must also remember the customer care numbers of respective banks. All this process will surely make you sweat before you block all your cards and show a sigh of relief that it is not misused or will not be misused further. If there were any transactions made by misuse between the time one lost the card and blocked it the customer will have to bear the charges. Not to mention that you would have also lost your flight or may not be able to make the payment that you intended to while carrying the credit cards. The same process has to be followed for debit cards though the risk of misuse is little less as most of the debit cards ask for PIN verification. Thanks to RBI’s directive that from 1st August for all online transactions IPIN is mandatory so that way, misuse may not happen. But RBI has mandated only for Indian sites and misuse in International sites is always possible.


What if we have the convenience of just calling one number and blocking all the credit cards and if we get replacement cards just by making that one call. Sounds simple isn’t it?

Thanks to CPP which exactly does this.

What is CPP?
CPP Card Protection is India’s first 24-hour Card Protection service for use in the event of card loss, theft and related fraud. One free call to CPP ensures that all the registered cards are cancelled immediately; and not only those we also get emergency travel and hotel assistance. We can now protect all the credit, debit, ATM, membership or loyalty cards & also valuable documents including passport, driving license, insurance policies.
CPP Assistance Services, India is part of the CPP group, a pioneer and a world leader in the emerging assistance services market. CPP launched card protection in Asia as far back as 2004, starting with Hong Kong, followed by Singapore, Malaysia and now from early 2009 in India.

Buying a CPP Card Protection Membership

• Call 6000-4000 (prefix city code if calling from a mobile)
• Choose your preferred plan
• Make payment (through MasterCard or Visa)
• You will get welcome kit after a week
• Register cards for which you need membership
• You can send filled registration mail to CPP office in Delhi, or call 6000-4000 to register
  Membership valid for one year
  

Reporting a Loss and Making a Claim

• Call 6000-4000 as soon as you realize that you have lost a card and notify them
• To make a claim, ask for a claim form and submit it with all necessary bills in original. claims should be sent not later than 28 days from date of reporting card loss
• In case of further problems, call 6000-4000

Courtesy: money.outlookindia.com (Above 2 subtitles)

Is this service Free?
Of course, a big ‘NO’. No service comes free of cost especially which involves financial transactions and protection. Minimal charges are applicable for this service. This should be just treated like a Term Life Insurance. The chances of meeting with an accident in a short term are very less but yet we pay premium in a Term Life Insurance for the financial cover and security it provides. CPP should be taken the same way as in business no one gives a free meal. With a host of benefits available at less than Rs. 3 to 4 a day, a complete peace of mind is assured.

What are the plans available?
The best option is to call CPP and get the information. You could also visit CPP’s website www.cppindia.com and find even more details not just about the rate but also about the wide range of services CPP provides.

This is not a marketing effort for CPP and is just an effort to let you know the options and convenience of blocking all credit cards at once in case the need arises.