Syed Muskan
A card protection plan covers a customer's card in the event of loss or theft of the card
Even though digital transactions have largely replaced card transactions, it is advisable to take a card protection plan to reduce the risk associated with misuse of one's cards in the event of a loss or theft of the card
You have to call the card issuing bank to have the lost card blocked to prevent its misuse
For calling the card issuer, you will have to dial the STD code of the local city before dialing the helpline number
A cash compensation is provided to premium and platinum cardholders. A lesser amount is provided to classic cardholders
A cover of 15 days is provided against phishing and online frauds in case of loss or theft of one's card
Compiled by Syed Muskan