Credit Tips: Credit Card Insurance Tips

Posted On: February 1, 2006

archive
Posted: Thu Jan 13, 2005 2:55 pm
Post subject: Credit Card Insurance Tips

patterson
Date: 5/26/2000 5:57 pm CDT

Out of my fault I did not catch on my monthly statement the
fee I was being charged for credit card insurance.I had never requested any insurance. I had paid approx. $1300 in
fees. After I caught this charge I called Shell Mastercard
and they stopped the charge and refunded me $250. for 3 months.I even called Chase Manh. bank which the account is
owned by, and they said that is all I am getting back.I feel
as though I have been ripped off. This is on the verge of
fraud. Has anyone out there had this happen to them? Does
anyone have any suggestions what I can do?

archive
Posted: Thu Jan 13, 2005 2:55 pm
Post subject: Credit Card Insurance Tips

Eugene Skorodinsky
Date: 5/31/2000 0:25 am CDT

You might want to ask Chase, or the insurance company associated with it, to send you a copy of your signed request for this insurance, which they will not have since you never requested it.
But I think you lost that money. Sorry. Check your monthly statement next time, will ya?

archive
Posted: Thu Jan 13, 2005 2:55 pm
Post subject: Credit Card Insurance Tips

Board Monitor
Date: 6/2/2000 11:37 am CDT

Patterson,

I agree with Eugene (Eugene you are always so helpful to those that post on this board). You would have had to authorize this at some point. Most credit card companies market insurance heavily, including telemarketing, and many consumers agree to the insurance without realizing how expensive it is…particularly if you carry an above average balance.

If you didn’t authorize this and they can’t provide proof that you did…then I think you should definitely be refunded any charges. Let me know if this is this case and if you need further advice.

Hope this helps!

Regards,
Jackie Hughes
Board Monitor
CardRatings.org