02 Mar, 2014
Savvy Tips

Did you know? Hidden Benefits Embedded in Your Credit Cards

Many of us use credit cards on daily basis but often forget the perks the cards come with. It is true that the premium cards (cards with an annual fee) have many more perks such as comprehensive travel insurance, rewards programs with enhanced features such as no blackout periods for travel, and more. Perks and benefits are embedded in most credit cards – even the no fee ones. There is no reason why each and every one of us cannot take advantage of these perks – most importantly for free! Below is a quick summary of the benefits.

Price Protection – Many stores offer price protection for items we buy, usually for 30 -45 days. Well, many credit cards offer price protection up to 90 days – well beyond the standard store offer! Imagine you bought a new computer or TV and 60 days later you find the same item on sale with a 35% discount. Believe it or not, with a simple application, your credit card company will reimburse the difference if you purchased using your credit card.  This is an amazing benefit we cannot forget about.

Purchase Protection – Another hidden benefit that few know about and use. This free insurance policy covers your purchased item against damages and theft usually up to 90 days. Imagine you bought a new iPhone or camera and your child accidentally dropped the box damaging the item inside. The store may refuse to exchange the item as the damage was beyond manufacture’s defect. No worries– your credit card will cover you.

Extended Warranty – We are often offered extended warranty in the store on bigger items for a fee. Did you know that most credit cards offer the same for free? It is common for credit card companies to offer an additional 1 or 2 years for your peace of mind. Always take advantage of this amazing perk!

Car Rental Discounts – Credit cards partner with different major car rental companies to offer 20% or more in discounts on your car rental needs. This is money in your pocket – all for free.

Car Rental Insurance – Those who have rented a car at least once know that you are required to take insurance on the car you rent from the rental company – and yes, it is pricey. Many cards offer free insurance on your rental if you charge the cost to your credit card. This can be a major saving!

Online and Store Discounts – Many cards offer discounts with certain stores and online shopping. Just check if you credit card is affiliated with any stores for you to save even more.

Hotel Discounts – Just like the rental cars, many credit cards offer discounts with certain hotel chains. At the time of booking, make sure you check if you are eligible for additional discounts.

Fraud Protection – All cards offer worry-free fraud protection against loss or theft of card. If someone stole your card and made some purchases, you have nothing to worry about. The card will cover all expenses you did not make and issue you a new card with a different account number for your safety and protection.

Special Events – Many cards offer special events to their card holders. For some, this means front line entrance to concerts and sporting events. For others, it is attending events at discount or even for free. Check with your credit for even more perks they can offer you!

Take advantage of the perks that your credit cards can offer, and enjoy the savings!

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