Payment Protection Plans Horrible for Consumers. Banks Love Them.

We’ve all seen them. Those offers to cover us if we are sick, laid off or injured and unable to make our credit card payments. Over the years, for every one person that has told me they have received some payment or benefit from the program, there have probably been 500 more that have not. … Read more

CFPB to Look Over Credit Protection Products Sold to Consumers

One of my favorite blogs, the Consumer Law & Policy Blog announced this morning that the GAO has completed their report on credit and debt protection products sold to consumers by credit card companies. You know, these are the credit protection plans that are sold to cover you in case you can’t pay the bill … Read more

I Had a Chase Credit Protection Plan But They Didn’t Cover Me. – Jaimie

Jaimie “Dear Steve, I have been a Chase customer for 3 or 4 years now. I started with the 0% introduction APR, and then went to 12%. My limit is $5800, and I put my tuition on the card so I have a balance of $5,000. I have ALWAYS paid on time, and most of … Read more