So I got a check from Chase today that stated that I needed no risk account protection (incase I get sick and cant pay my card) they enclosed a $20 dollar check and stated that by cashing it I agreed to the Terms and Conditions. Has anyone had much luck with this offer or is canceling your no obligation free first month more hassle than $20 easy bucks?

I've done it 4 times. 5 min to read term and scan check to bank account, when you receive info in mail saying you are enrolled then it's another 5 min to cancel. I've had no problem. Equates to $120/hour. I also like (citi cards only) this one:

http://www.creditprotector.citicards...x?ordsrc=D3069

and this one:

https://www.citibank.com/us/cards/sv...=10045&PID=004

Even better if it's a card you're not using (no balance = no fee) or a card you're about to close. You don't even need to call to cancel within the first month.

Thanks for those links, always wondered why Citi never had them. Do you know if all multiple citi cards can be used for these offers especially the second one?

Used to be great when folks had multiple Chase UA cards for churning. Since we still have 4 accts open, we got 4 checks on the same day. The $80 was pretty sweet.

Thanks,

So its a silly question but what If I charge lets say $2000 in one statement but pay it off electronically before my statement ends. Do they assess the fee based on how much you spent or just your ending monthly balance?

Ending monthly balance - as long as it is 0 by statement close date, no charge. but if there is any balance, there is a charge. one of our cards has a 3.16 balance I forgot it was there (charged to activate 1000 bonus miles for the payment protector), the charge was 0.03.

when you call to cancel, just be polite but firm, to tell the CSR upfront, no matter what he/she wants to say, is not going to change anything - so let's not waste his/her and your time, just to cancel it. You can cancel it ANY TIME even if you do not cancel it within the first 30 days "free" period. The UA card payment protector 1000 miles did not kick in the first month after enrollment, so needed to charge a small amount to generate a statement for the bonus to kick in.