Tuesday 7th Feb 2012 11:08 PM
Creditshield
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Mon, 12/01/2008 - 16:53
Anyone has been harassed by calls from banks selling creditshield? Any idea how it works and whether there is any diff btw the offerings by Citibank vs DBS?
Seems too good to be true that the premium is only based on my month end outstanding balance @$0.30-$0.40 per $100 outstanding... which means that if I pay off my outstanding bills before end month, I dun have to pay a cent, but if I should die or suffer from TPD during the month, the insurance underwritter will cover and pay for my full outstanding? Any idea if there is a catch somewhere?
Regarding the calls - I definitely got them. It's quite a number of times and you get a call for creditshield or something similiar.
There seems to be one from manulife and another from ACE insurance. If the product is sold via the phone, there's not much literature you can get from the sales officer, I tried askng them to mail me something or drop me an email, but they can only close the sale over the phone.
Creditshield itself is available as an optional item on your credit card form though. The terms and conditions are available there also.