My visa expired, so they sent me a new one, with a little pamphlet about the PPP. And when a called they offered me the PPP again saying "the only time that we will actively offer you the product, is when you call". you know what that means? every fucking single time i call them, they will do a shpeal on PPP. Moreover, stamping and mailing an envelope is not 'active offering'.
They have this marvelous script to keep you on the phone. Examples include:
"It takes a minute for your card to renew, while we wait, may i offer you..." (lies)
I let the chick, Amanda, complete her script on PPP and said "no thank you, i'm not interested" her uncanny reply "as part of our customer improvement plan, can you tell me why you don't want this great offer?" "i say because i dont need it" this prompts one of 7 rebuttals that you can think of for any reason why you wouldn't want a PPP. i find saying "i had it once and dont want it," will shut them up because there is no script on their blue screen for that.
but really, what i should have said is that ppl are only covered under that PPP if they work a minimum of 25 hours (with that particular company that lays them off). if they work that many ours, but totaled over two jobs, or if they work seasonal, or on contract, or have a status of part-time or casual worker with employment or a homemaker or a student or retired or on disability or welfare etc they are not covered under the PPP at any time.
what i should have said is that according to stat can's 2006 census, 13 206 200 ppl are working full time, while the total population is 31 612 895, meaning only 41.8% of the population could even qualify for the gracious cap of $10 000.00 payment onto their Visa if they were "unemployed involuntarily or due to labour disputes, strikes or lockouts for 30 days" or "totally disabled" or had a critical illness like a "heart attack" (these events/medical conditions are said to be defined in the detailed info they will only give you once you've already agreed to have the product).
It is clear that PPP offers are not morally offered to only those that can benefit from the 'peace of mind', but even if that so only those of the 41.8% would really benefit if they carried a balance.
To even be out of work due to strike would have to mean you are a part of a union. for them to pay your visa you must be "totally disabled" or dying. if you are dying, do you REALLY think that you will give a shit about your credit? That you will care if your credit goes down a point because you couldn't pay your min balance once or twice? Most ppl miss their payments just because they have a messy desk. That is WAY more likely to happen, but no one offers us that kind of peace of mind.
Speaking of offering products, psychologically, humans are more inclined to donate money or accept these products when death is made salient. That's why their shpeal will mention things like critical illness like "Cancer (Life-Threatening)". Notice they are in caps. When a lady is talking to you some times they through in qualifiers like, "Heaven forbid".
Really, the only peace of mind is to keep a savings of three months salary in an account at all times, be sure not to keep balances unnecessary debt products (like all the shit we like to put on our Visa) and what ever you do, don't pay a dollar for every 100 you keep on your credit card, put that in your account instead and keep it for all the peace of minds that are not included in the PPP.
EG. Credit Balance= 10 000.00
Interest for 31 days at 19.5% annum: 165.62
PPP: 100.00
if they include your interest as the balance, and why shouldn't they, PPP will be: 101.65
Total:10267.28
In my opinion, you are better off just paying down as much as you can, rather than paying $100 !!!!! every month to something that is statistically unlikely to happen to an individual (especially if you compare it with all other reasons why ppl miss they're payments and the fact that more than 50% of us aren't even eligible for the coverage.)
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