Guide on Home Credit Card Insurance Coverage for the Cardholders
HOME CREDIT CARD INSURANCE COVERAGE – Here are important details that Home Credit Cardholders must know with regards to the offer.
Aside from banks in the Philippines, there are also other types of lending entities that provide credit cards. Truth be told that more and more people are mulling to apply for this type of card in preparation of financial emergency situations.
While credit cards earn a negative reputation in the past due to the experiences of some people who failed to manage their card usage well, nowadays, more and more individuals were convinced that credit cards really beneficial if you know how and when to use it. There must be enough discipline from the cardholder to resist the temptation to overspend.
One of the entities that provide this type of credit line is Home Credit, an international consumer finance provider that is most popular for its Product Loan. It offers a Home Credit Cash Loan and a Home Credit Card for good-paying clients.
With regards to the Home Credit Card offer, it comes with an insurance coverage. There are three (3) major protection provided by the international consumer finance provider for the cardholders:
Credit Life Insurance
The cardholder is entitled to a credit life insurance that can provide up to 120% of the outstanding balance. According to Home Credit, the beneficiary may claim any amount left from the insured amount.
Accidental Death & Dismemberment
In case the Home Credit Cardholder died or faced a dismemberment of certain body parts due to accident, the cardholder or his/her beneficiary may “vail additional benefits of up to 120% of the outstanding balance”.
Lost / Stolen / Internet Fraud
In case the Home Credit Card was lost or stolen, the authorized transactions made 12 hours prior to the time when the cardholder reported the lost or stolen card is covered.
In such case, the cardholder must report the incident to the customer service via their hotline numbers:
- Globe: (02) 7-753-5711
- Smart/PLDT: (02) 8-424-6611.
In case an internet fraud took place, “unauthorized online transactions within 30 days from the last billing date” or before the cardholder has reported the incident to the customer service is covered. However, it is important to know that cases wherein the cardholder voluntarily gave his/her confidential information which led to the incident will not be covered.