After a good long run with Citi Credit Protector, I finally got tired of playing their retention rebate game and called this past week to cancel (again).

As a quick recap, Credit Protector periodically send $15 checks that result in you signing up for your service when you cash them. When you call and try to cancel, they typically offer you: (1) a price break on the Credit Protector plan, and (2) a series of 5 x $10 rebate coupons good that can be redeemed (via mail) for basically any purchase regardless of your method of payment. Over the past year or so, I've been playing the rebate game with an inactive Citi AT&T rewards MasterCard, such that I wasn't ever incurring any of their fees. Rather, I was just collecting (and cashing) the checks periodically.

Anyway, when I called to cancel I tried to cut through their spiel by telling the CSR up front that I didn't want a price break or more rebates for staying with them, and I was well aware of the protection that I would be giving up. Alas, it did no good. The guy immediately launched into an explanation of how great the benefits are, and how it's times like these, when things are going well and I think that I don't need Credit Protector, that I'm least aware of how valuable their program can be. Yadda, yadda, yadda.

When I cut him off and insisted that I wanted to cancel no matter what he told me, he finally relented. So long Credit Protector! Now I just have to make sure that he really did cancel it... I should be receiving written confirmation of the cancellation (they won't give you on confirmation number over the phone) within the fabled "three to five business days."

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"Credit Protector Cancelled (Once and for All)" was first published at fivecentnickel.commortgage calculator