Credit Card Perks You May Not Aware Of
You may have travel insurance that you weren't aware of or extra warranty protection against merchandise that just doesn't make the grade. Maybe your one of the people who is missing out on the perks that come with many credit card agreements. Even those who know about the special features may not be taking advantage of them. Read the terms of your credit card agreement to find the benefits that are included and make the most of them.
"You Get What You Pay For!"
Although most perks are free and offered by the credit card company as an incentive to use their card, many require some action on the cardholder's part to reap the benefits. For example, travel insurance is a common feature but is only available if you use the card to purchase the travel arrangements. In addition, the more you spend using any card that offers rewards of merchandise or cash rebates the greater the reward.
Cards that require an annual fee may offer advantages that the 'no fee' offers may not such as companion airline tickets, concierge services, points programs and VIP access to events and destinations. If you have the option and you choose to use a card with an annual fee, plan to substantially use the card to reap the benefits. Otherwise, you probably won't break even.
Reward Card Benefits
There is a reward card for almost any hobby or interest and can be a fantastic way to get something for nothing. If you spend a lot of money with your card, it's not difficult to get lots of free items, such as electronics or travel packages from your credit card company. But the only way they are a benefit, as with all credit cards, is by paying off the balance each month to avoid being charged interest, which essentially negates any benefits you may gain.
Purchase Protections
Most cards offer standard purchase protection services and options of some sort, such as return protection, price protection and extended warranties.
' Return Protection ' gives you the right to return merchandise after the return period has passed or even if the store does not accept returns. This is a great benefit, especially for electronic, technology or music purchases that often have restrictive return policies.
' Price Protection ' guarantees the best price no matter where you made the purchase. If you find the item at a lower price anywhere, the card company will reimburse the difference.
' Extended Warranty ' With the benefit you can forget about purchasing the extended warranty the retailer may offer. This service doubles the standard warranty on anything you buy with the card, typically up to an additional year. For high-ticket items like computers and TVs, the savings from this feature can be substantial if you ever need a replacement or repairs.
Insurance Protections
With the insurance benefits that may be included in your credit card policy, you may find some relief when one of life's unpleasant little surprises occurs.
' Auto Rental ' Feel secure when renting a car with your credit card with the secondary insurance coverage that will kick in if you are in an accident.
' Event Insurance ' Use your card to purchase tickets to special events or concerts and be reimbursed if you have to unexpectedly cancel or miss the event.
' Lost Luggage ' No need to worry about lost luggage, when you pay for your travel ticket with your card.
Travel Protections
' Roadside Assistance ' Run out of gas! Call the service number on the back of the card.
' Emergency Assistance ' Lose your passport? Call the service number on the back of the card.
In addition to the free services and features, there are optional services and protections that may require a monthly payment. Check out your credit card company's benefits pamphlet included in your acceptance letter. If you no longer have the pamphlet, just call the number on the back of your card and request a copy. Become familiar with all that is offered to make the most of the services. You may have travel insurance that you weren't aware of or extra warranty protection against merchandise that just doesn't make the grade. Maybe your one of the people who is missing out on the perks that come with many credit card agreements. Even those who know about the special features may not be taking advantage of them. Read the terms of your credit card agreement to find the benefits that are included and make the most of them.
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