The coverage under CPP credit card protection membership in India is generally limited to the protection against loss, theft or misuse of the member's credit cards, debit cards, and other cards. CCP credit card protection also protects unauthorized transactions and emergency card replacement services.
Protection plans for credit card fraud protection are optional. However, if your cards are ever lost or stolen, this is a great method to feel more secure and at ease. A wide variety of benefits, including monitoring for fraudulent activity, compensation for losses, and new cards in the event of theft, are available through plans of this sort.
Credit cards are debt instruments. Debit cards are not.
You must contact the bank's customer service to terminate the credit card fraud protection Plan. You must call from the cell phone number associated with your account. If you don't, your request can get stuck in limbo. This precaution should be taken before making the call.
Debit cards provide you the opportunity to earn rewards, withdraw cash, shop online or offline, pay bills and much more.
Credit cards should be used when you have insufficient funds and require a loan to make the purchase.
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.