Credit Cards
Sub-Title:
Consumer Costs for Debt Protection Products can be Substantial Relative to Benefits but are Not a Focus of Regulatory OversightAuthor:
Alicia Puente CackleyPublisher:
DIANE Publishing CompanyPublication Date:
06-01-2011ISBN:
9781437983616Pages:
52Subjects:
Reference BooksAvailable as:
Paperback, 9781437983616Description:
Debt protection and credit insurance products can cancel or suspend part or all of a credit card debt under specific circumstances, such as loss of life, disability, or involuntary unemployment. This report reviews these products' market share and characteristics, federal and state oversight, and advantages and disadvantages to consumers. The report analyzed data it had requested on these products from three major credit insurers and the nine largest credit card issuers. These nine issuers represented 85% of the credit card market. The report also reviewed the products' terms and conditions, related marketing materials, and applicable federal and state regulations. Charts and tables. This is a print on demand report.
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