Benefits of Having a Credit Card with Purchase Protection

Posted on Thursday, May 11th, 2023 | By Indusind Bank

Credit cards have become an essential part of modern-day transactions, and for good reason. They offer convenience, security, and rewards that can help you save money on your purchases. Some credit cards offer added benefits such as purchase protection, which can help protect you from the financial consequences of unauthorised transactions in case of loss/theft of your card. In this blog, we’ll explore the benefits of having a credit card with purchase protection. 

What is Purchase Protection? 

Purchase protection is a benefit offered by some credit card providers like IndusInd Bank which cover you against any fraudulent usage of your card for an amount upto the credit limit available on your card. The coverage typically includes protection against unauthorized transactions in case of lost/theft of the card or transactions done through a counterfeit card. If reported within a certain timeframe, the credit card company may offer reimbursement against the loss to the cardholder. 

Benefits of Having a Credit Card with Purchase Protection 

• Protection Against Loss/Theft of Card 

One of the primary features of having a credit card with purchase protection is that you are covered for unauthorised transactions in case of loss/theft of card. If you lose or accidentally misplace your card while travelling, then just report the incident asap and  and live stress-free. 

• Protection Against Counterfeit Frauds 

Some leading credit card providers like IndusInd Bank provide protection against counterfeit frauds as well. In case, your card details are stolen and misused to produce counterfeit cards. WIth protection against such frauds, you can enjoy using your credit card with peace of mind. 

• No Additional Cost 

Another benefit of having a credit card with purchase protection is that there is typically no additional cost to the cardholder for this benefit. Purchase protection is often included as a standard feature of the credit card and does not require any additional fees or charges. This can make it an attractive feature for those who want added protection without having to pay extra for it. 

• Easy Claims Process 

If you need to file a claim for purchase protection, the process is typically straightforward and easy to navigate. Most credit card companies offer an online claims process that allows you to submit your claim and supporting documentation electronically. Some credit card companies may also offer a phone-based claims process or an online chat feature to assist with the claims process. This can help you quickly and easily get the financial protection you need for your purchases. 

Conclusion 

Having a credit card with purchase protection can offer significant benefits for consumers. It can provide protection against unauthorized transactions in case of theft/loss of card  and an easy claims process, all at no additional cost to the cardholder. If you’re in the market for a new credit card, it’s worth considering one with purchase protection to  provide peace of mind. However, it’s important to carefully review the terms and conditions of the purchase protection benefit and ensure that the loss is reported timely to be eligible for the coverage. 

If you’re looking for a credit card that encompasses all the benefits and rewards to match your lifestyle, check our offerings and you’ll definitely find your ideal pick. IndusInd Bank offers a range of lifetime free credit cards that come backed with the ‘Total Protect’ program. With this, you can rest easy knowing that any fraudulent transactions made with your card will be fully covered. Total Protect includes coverage for unauthorized transactions in case of card loss or theft. Also, you get to enjoy exquisite privileges and earn reward points that never expire on all your spends.  

Apply Now 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.