Credit Cards - It's All About the PerksMarch 30th, 2016
We probably all know the basic perks of having a credit card. Some credit cards will give you points for every dollar you spend, and some will pay you a percentage of your spending back in cash. Plus, if you’re responsible with a credit card, then it also positively affects your credit score.
There are other, lesser known perks to having a credit card too. Many credit cards can assist with travel expenses and fees, and help you out in some stressful situations. Cards vary in terms of what they can offer you, and not all offers are advertised. It’s worth calling your card provider to see what other perks they can offer you.
Perks Many Cardholders Aren't Aware Of
1. Many credit card companies offer their card holders an extended warranty up to a year after they purchase many types of products, so check with your credit card company before purchasing an expensive extended warranty.
2. We’ve all bought something only to find that product selling for less after you have purchased it. Some credit card companies will reimburse you or match the price if this happens. Of course, you would have had to have found the lower price within a certain period of time and the initial purchase must have been on that card.
3. Have you ever damaged your cellphone? Or had a valuable possession stolen? Some credit card companies will replace these items within a 90 days of the incidents, if you used that credit card to purchase the stolen or damaged item. They will cover damaged cellphones after you have paid a deductible, so this could be a good option for you if you don’t have insurance on your phone. This perk doesn’t usually cover lost cellphones, or items stolen from your car.
4. You finally get that package you have been waiting on in the mail, you take out the product you ordered…and it doesn’t work, or it’s broken, and the company doesn’t accept returns. Some credit cards offer return protection, if you make a purchase with them. So, you can return the items and get your money back.
5. It is definitely no fun to be stranded on the side of the road in need of help. Some credit cards can even help cardholders with Roadside Assistance. Specifics vary by company; some will help you no matter what, others will only help if you are close to home or in a rental car paid for with their credit card.
6. Last, but certainly not least, are the array of travel benefits and perks that credit card companies offer. For instance:
- a. No currency conversion fees. Some card companies won’t charge you these costly fees in order to exchange money when you’re overseas.
- b. Trip cancellation insurance. Of course, this all depends on the reason why the trip was cancelled. You would also have to have purchased the flight with the credit card that offered the perk in order to get your trip refunded.
- c. Emergency travel assistance. If you are overseas and in need of an emergency flight home or medical or legal assistance, some credit card companies can help you out.
- d. No baggage fees. This perk is usually only available with an airline-specific card. With this perk you would be able to check at least one of your bags for free.
The details of these perks will vary depending on your credit card, so it definitely pays to read the fine print, both of your current credit cards, and when applying for a new credit card.