I'm applying for my first credit card and the bank's web site is recommending I apply for Balance insurance. I read through the page that they recommend you read and it didn't really make much sense to me. Can anybody dumb it down for me at all? The link, if you can even see it is http://www.bmo.com/creditcards/pdf/NOB_English.pdf
It's just a way to get more money from you, another source of revenue for them. don't do it.
AND, If you want a credit card, I recommend going to a local credit union or bank in your city and applying for one through them. My visa card is through a local credit union and if I have any issues / questions I can walk right in there and get service. I can also make a payment there as well. There is still something to be said for face to face customer service, it's well worth it, and I don't feel like I'm feeding "the big machine".
P.S They never even mentioned balance insurance. I do all my banking with little banks, we need them to stay afloat. They do things right and don't get in trouble and ask for government bail-outs ect.
