I am just about to pay off some pretty big CC balances with parental help today. Anyway I have the pmt protector program for my Chase and Amex card plus the Identity theft program for through Amex (but can be used for any account I have). Right now I am keeping both of them. The pmt protector fee for each is less than $1 for each $100 I'm pretty sure. well I confirmed it's 85 cents for one of them. A pmt protector program is especially useful if you are unemployed and don't want to pay minimum pmts. I'm guessing for both chase and amex they will pay min pmts for up to 2 years. I think there are other benefits.
The Amex id theft has a 9.99/mo and 11.99 program.
I believe the difference is a cr rpt from 1 agency vs a cr rpt from all 3 agencies.
both have fico scores I think.
both give up to $100K id theft lawyer fees/assistance or something similar
I also have a Macy's card which I barely use.
no id theft or pmt protector for that.
Just as an aside getting tired of the whole credit card thing. I can see myself at some pt in the future maybe getting a skymiles card but that's it. I feel like I'm done with CC's.
I will say the pymt protector program is worth it, I have it on all of my cards and I needed it too! I was like you, I didn't really see the point until I actually needed it and it was there. It saved my credit score and my sanity!
As far as the identity protection...I don't know, I've never had it through my cc but I do have it on my homeowners policy. It's not expensive at all and It's there in case I need it. In this world today I think I would keep it...if you can afford it. You never know when someone will take advantage of you and I'm not just talking about strangers, I'm talking family and friends too.