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Credit Protection Plus ("the Plan") is an optional product available on your Bank of America credit card account.
Whether or not you purchase the Plan will not affect Your application for credit or the terms of any existing credit agreement You have with Us.
- Benefits: In return for a Monthly Program Fee, the Plan can credit up to 18 Monthly Benefit Amounts in the event You incur an approved Hospitalization, Disability, Involuntary Unemployment, or Family Medical Leave. You can also receive Three (3) Monthly Benefit Amounts for any approved life Event. in the event of Your Loss of Life, the Plan can credit a lump sum benefit amount equal to the outstanding balance on the Date of Loss or $25,000, whichever is less.
- Cost: The Monthly Program Fee is 95¢ per $100 of Your Plan Balance up to $25,000. For your convenience, the fee is automatically billed to Your credit card account. During months when there is no balance and no activity Your credit card statement, there is no charge for the Plan that month.
- Eligibility Exclusions: There are eligibility requirements, conditions and exclusions that could prevent You from receiving benefits under the Plan. Please refer to the Addendum to the Credit Card Agreement for a full explanation of all requirements, conditions and exclusions.
- Termination: If, at any time during the first thirty (30) days after the date Your protection begins, You cancel the optional Plan, all Plan fees billed to Your account will be refunded via a credit to the protected card. You have the right to cancel the Plan at any time by making a telephonic or written request to the Plan Administrator. The Plan will automatically terminate under the following circumstances: You no longer have the Enrolled Account; Your Enrolled Account is closed due to account charge-off; You suffer a Loss of Life; Your Enrolled Account becomes 4 payments past due, You enter into a repayment plan for the Enrolled Account, or You conduct or attempt to conduct fraud relating to Plan benefits.
- The Plan Administrator is CSI Processing, LLC at Credit Protection Plus, P.O. Box 34888, Omaha, NE 68134-0888; (800) 242-6806 Monday - Friday, 7:00 a.m. - 10:00 p.m. Central Time.
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