It is likely that the Payment Protection Plan was a "free offer" that was advertised in a monthly statement without you realizing that you were subscribing to the plan and that you would be responsible for charges that would be incurred after a specific free period. Sometimes these offers are presented and you must specifically "opt out" of the offer or you will be automatically subscribed. It is very important that you read statements very closely and that you know how credit card companies enroll you in these extra plans so that you can avoid future instances or stop it the first time it appears on your bill. Consumers must be ever vigilant in protecting their financial assets. We would like your feedback on this Personal Finance Frequently Asked Question.

Browse related Faqs by tag: personal finance, credit