credit line balance protector

[newresolve]

I have a balance protector (like insurance) on my credit line, which is currently costing me $11/month.

Is it worthwhile? Do I need it or should I ditch it?

[babymakes5]

I don't know if it is worth it or not, but I have never taken it out on any debt that I have. I think of it like I do extended warranties, most of the time they are a waste of money, unless you are the one person with a lemon!

[Mom23boys]

Have you ever went over your limit before? If not, I wouldn't waste the extra money on it. $11 a month adds up to $132 a year. You could take that $11 and put it in your EF and let it earn interest.

[FrugalMomof3]

I agree with Mom23boys, in the long run it's not worth it, I would cancel it especially since that can add up to alot over the years and better to have it saved in the EF earning interest. JMHO

[chatterweb]

Ditch it!!