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Identity theft cover is also offered with some credit cards, to protect you if someone steals your identity and uses your credit card. Read more in our guide to PPI. Section 75 also only applies to single items. Home Credit cards Credit card protection. Credit card protection Find out what protection you have when taking out a credit card and compare deals with Runpath Regulated Services [1]. How much does it cost? This protection doesn't extend to payments made by debit card, though. We do not include the universe of companies or financial offers that may be available to you.

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The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Simple to use and store, they are the preferred modes of payment for many. If your wallet gets lost or misplaced, you run the risk of misuse of the cards. A card protection plan or CPP helps by providing insurance cover against any card loss, theft or fraud. Simply put, the plan is like an insurance policy for your cards.

Usually, it covers not just your credit cards but all types of plastic money in your wallet such as debit cards, membership cards of retail stores, loyalty cards, etc. You can also, via the plan, block all lost cards and even apply for new ones, just by directly contacting only the issuing company or bank.

There are various providers like card protection plan companies, banks, credit card companies and finance companies offering variants of the product.

Almost all major credit card providers offer card protection plans to their customers. Do compare various card protection plans in the market on offer for their benefits as well as the costs. You need to sign up for the desired credit protection plan by filling up a form with basic personal details and paying the stated annual premium.

On successful payment, a welcome kit will be sent to you. This kit typically consists of a confirmation letter, benefits of the plan, terms and conditions along with a registration form. In the form, fill the details of all those cards that you wish to link to the plan. Send the form back to the CPP issuing company or your bank. If card loss or theft occurs when you are travelling or on the go, the plan even provides emergency financial aid during such time like settling hotel or travel bills.

You can get substitute travel tickets to return home without any financial stress or crunch. The card protection plan takes effect from the date of payment for one year. Auto renewal option can be availed to renew the plan at the end of the term to avoid loss of cover.