The short-term code is activated once the consumer submits the application for an item or service using the credit card that is being insured against. One way PPI works is through the use of a short-term or long-term code. PPI plans were designed to protect consumers from late payments and are usually not available with debit cards or online shopping sites. PPI is a payment that you make to the credit card company each month at the beginning of every year, at that time the credit card company will pay all the debts of the consumer that has purchased a credit card using that particular credit card, including any overdue items. PPI (Payment Protection Insurance) plans are very popular in the UK and people in the United States purchase similar insurance policies to cover their credit cards and bank accounts from major credit card companies.
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