The Insurance You Don't Need

Credit-Card Theft Insurance

If you get a call or an e-mail from someone offering to sell credit-card loss-protection insurance to you for a modest fee (perhaps $100 a year), hang up or press delete. The person may claim that if someone steals your card, you'll be liable for all the fraudulent charges. But that's simply not true. Federal law limits consumer credit-card liability for unauthorized charges to $50. No wonder the Federal Trade Commission calls this type of insurance an outright scam.

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