A vast majority of people today use plastic money. This is owing to the convenience and benefits they provide. Firstly, the eliminate the need for carrying cash and secondly, there are many rewards which are provided by credit card companies for making purchases using credit cards. As a consequence, the number of users of plastic money is only increasing with the passage of time. However, this has a downside too.
Disadvantages of Plastic Money
While the benefits of plastic money are such that they cannot be ignored, there are many disadvantages too. For instance, there are people who carry a large number of such cards in their wallets. This has become the ideal spot for thieves to target and should your cards get stolen then it is only a matter of time before your account is wiped out and your credit card used till the credit limit.
Despite the best efforts by the credit card companies to ensure the security of such financial ways, thieves and hackers always find the way around such measures. As such, while we cannot prevent such an occurrence, we can surely protect ourselves from its consequences.
Wallet Protection Plan
There are a number of prominent lenders which provide a Wallet Protection Plan to protect the plastic money contained therein. Some of the prominent features of such a protection plan include -
- Card Blocking
- PAN Card Replacement
- Emergency Travel Assistance
- Mobile Benefits
- Complimentary Fraud Protection
Thus, if your wallet gets stolen, all you need to do is place a single call to block all your existing cards irrespective of where you are in the world.