She enrolled in Chase' Payment Protector plan, which functions as a term plan and not like insurance. But Chase is ceasing the plan on May 31, 2014, explaining that it was "aiming to simplify the set of products and services we offer customers."
Cross, of Charlotte, N.C., is a retired school teacher, who enrolled in the program around 2007 and paid less than one percent of her credit card balance as a monthly fee. She paid over $16,000 in fee payments, but will not longer have the benefit of the program, as first reported by the Los Angeles Times.
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