Apr 12 2017, 01:51 PM
QUOTE(justanovice @ Apr 12 2017, 01:29 PM)
I did subscribed to credit shield (other bank though)
I understood that if the card holder suddenly pass away, the outstanding balance will be settled by the insurance.
So good for someone with balances, or with huge spending every month.
Perhaps you can ask more details to see if you need it.
The plan i subscribed, do not need to pay anything if outstanding is 0. Only pay certain % on top of unpaid balance. I canceled the card now, though.
I remember this kind of plan have the catch that you need to maintain outstanding of 0 in order to not paying the premium.I understood that if the card holder suddenly pass away, the outstanding balance will be settled by the insurance.
So good for someone with balances, or with huge spending every month.
Perhaps you can ask more details to see if you need it.
The plan i subscribed, do not need to pay anything if outstanding is 0. Only pay certain % on top of unpaid balance. I canceled the card now, though.
So it lost the purpose of using creditcard if you need to keep 0 outstanding
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