SBI Card will automatically shift all CPP customers to a new plan with lower cost from September 16, which will provide more security and facilities. If you are an SBI credit card holder, then do check what the new charges will be.
Credit Card Charges Change: There is an important update for SBI credit card holders. From September 16, SBI Card will automatically shift all its existing Card Protection Plan (CPP) customers to a new and better plan at the time of their policy renewal. This change will be effective from the renewal date of your policy. SBI Card said that you will be informed about this at least 24 hours in advance through SMS and email. The good news is that the fee of the new CPP plan will be less than the old plan.
What is CPP?
This is a service that protects your credit card from theft or loss. If your card is lost or stolen, CPP gives you many benefits. For example, you can block the card by making a call. Apart from this, you can also get the details of your important documents like driving license or passport. CPP also protects against fraud, such as PIN-based fraud, phishing, tele-phishing or transactions without OTP, if the card is lost or stolen. This protection can be up to Rs 3 lakh, depending on your plan. There are three variants of CPP – Classic, Premium and Platinum.
What are the changes in the new plan?
The Classic plan will now cost Rs 999, which was earlier Rs 1199. The Premium plan will be available for Rs 1499, which was earlier Rs 2499. The Platinum plan will cost Rs 1999, which was earlier Rs 3199. That is, the price of every plan has decreased. All plans come with SIM card blocking, emergency travel assistance like hotel or ticket advance of Rs 80,000 to Rs 1,60,000, and fraud protection of up to Rs 1 lakh. Classic covers one member, Premium covers you and your spouse, and Platinum covers four people (you, spouse and parents). There is also mobile wallet protection, which offers protection of Rs 10,000 to Rs 50,000 in case of loss of device.
How to register in CPP?
After paying the fee, you will get a welcome kit from CPP, which will contain your unique membership number. You will have to fill a form and send it back or call the CPP call center to register your card and documents. The advantage of registering your driving license and passport number is that if you do not keep them with you and you need them, you can get this information by calling the CPP executive.
CPP is the first company in India that provides protection in case of lost or stolen cards. It is a subsidiary of UK’s CPP Group. These new changes are beneficial for you, because you will get better facilities at a lower price. Check your CPP plan and be ready for updates.
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