Possible Henrico abduction: Woman asked driver for help
Megan Metzger case: 3 suspects arrested
Son dies, father hospitalized after falling into Lake Anna
TRACK RAIN: Use CBS 6 Interactive Radar

Is credit protection worth it?

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

RICHMOND, Va. (WTVR) -  Thursday, Henrico County based Capital One responded to reports that it was being fined millions of dollars for misleading and persuading two million customers to buy credit monitoring and payment protection programs. In some cases, customers were signed up for the programs without their knowledge, according to the Consumer Financial Protection Bureau.

Capital One responded by saying an outside company that it hired was actually to blame but that it was taking responsibility for those actions.

Payment protection plans are not unique to credit cards. The products are offered when you obtain a car or home loan as a means to ensure you can make your payment in the event that you lose your job or sustain a debilitating injury.

CBS 6 invited Tom Gallagher of the Richmond Better Business Bureau into the studio Thursday to ask if any of these products are worth buying and what consumers need to look out for before they add the additional services to their loans.

Gallagher summed up his visit by saying customers who have no access to medical insurance or owe large sums to their loans should consider it -- but should never feel rushed to make a decision.

The complete interview is attached.