Comments on: Credit Balance Insurance: Is it for you? http://www.thickenmywallet.com/blog/wp/2009/02/23/credit-balance-insurance-is-it-for-you/ Everything to do with thickening your wallet Wed, 01 Feb 2012 15:44:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: moti http://www.thickenmywallet.com/blog/wp/2009/02/23/credit-balance-insurance-is-it-for-you/comment-page-1/#comment-19746 moti Fri, 16 Oct 2009 07:11:34 +0000 http://www.thickenmywallet.com/blog/wp/?p=746#comment-19746 Can you get your money back for balance protection you didn't sign on for, but was charged for anyway? I never signed up for it and yet upon getting the card but I've been getting charged for a long time. Upon looking over my statement carefully I realized what was happening. Can you get your money back for balance protection you didn’t sign on for, but was charged for anyway?

I never signed up for it and yet upon getting the card but I’ve been getting charged for a long time. Upon looking over my statement carefully I realized what was happening.

]]> By: Jana http://www.thickenmywallet.com/blog/wp/2009/02/23/credit-balance-insurance-is-it-for-you/comment-page-1/#comment-18130 Jana Tue, 24 Feb 2009 17:24:40 +0000 http://www.thickenmywallet.com/blog/wp/?p=746#comment-18130 Credit Balance Insurance is definitely not a new product in the world of credit cards, although the movement towards charging for it as a negative option might well be. As someone who worked in the credit card industry, I wholeheartedly believe that this is a scam for most people. However, for the people who do maintain a balance on a monthly basis and who have uncertain job futures it may make sense (based on their unique set of circumstances), as it may mean that they don't go into bankruptcy if they lose their job or become ill. This is not to say that this is a good or widely beneficial product. And as with anything else to do with your finances, pay attention! Know what you are signing or agreeing to. Read your bills on a monthly basis. These sorts of things shouldn't be a surprise if you are actively monitoring your finances. Credit Balance Insurance is definitely not a new product in the world of credit cards, although the movement towards charging for it as a negative option might well be.

As someone who worked in the credit card industry, I wholeheartedly believe that this is a scam for most people. However, for the people who do maintain a balance on a monthly basis and who have uncertain job futures it may make sense (based on their unique set of circumstances), as it may mean that they don’t go into bankruptcy if they lose their job or become ill. This is not to say that this is a good or widely beneficial product.

And as with anything else to do with your finances, pay attention! Know what you are signing or agreeing to. Read your bills on a monthly basis. These sorts of things shouldn’t be a surprise if you are actively monitoring your finances.

]]> By: mfd http://www.thickenmywallet.com/blog/wp/2009/02/23/credit-balance-insurance-is-it-for-you/comment-page-1/#comment-18128 mfd Mon, 23 Feb 2009 18:59:43 +0000 http://www.thickenmywallet.com/blog/wp/?p=746#comment-18128 I wrote an article last month about the same thing when I canceled my visa balance protection. The funniest part about the whole process was the persons genuine concern about the rash decision I was making. He went so far as to ask me to sleep on it. I wrote an article last month about the same thing when I canceled my visa balance protection. The funniest part about the whole process was the persons genuine concern about the rash decision I was making. He went so far as to ask me to sleep on it.

]]> By: Canadian Capitalist http://www.thickenmywallet.com/blog/wp/2009/02/23/credit-balance-insurance-is-it-for-you/comment-page-1/#comment-18125 Canadian Capitalist Mon, 23 Feb 2009 15:32:59 +0000 http://www.thickenmywallet.com/blog/wp/?p=746#comment-18125 Interesting that credit card balance insurance is charged as a negative option by some vendors. Goes to show that you should always check *all* your bills and watch for sneaky charges. Interesting that credit card balance insurance is charged as a negative option by some vendors. Goes to show that you should always check *all* your bills and watch for sneaky charges.

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