What Is a PPI Claim?


Quick Answer

Payment protection insurance, which is abbreviated as PPI, allows users to open claims against unauthorized purchases if their credit card is lost or stolen and the purchase of damaged or faulty products, according to Discover. Different credit card companies have different policies regarding their PPI.

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Full Answer

With purchase protection insurance, eligible purchases are covered for a period of up to 90 days from the purchase date, says American Express. To file the claim, users should call the credit card company and get the process started. The insurance also covers damaged items, and individuals should report any thefts or accidental damages to their purchases to the credit card company immediately after they happen.

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