While we often hear the horror stories of credit card debit, credit cards offer consumers much more than just a line of credit. Many cards also come with special perks that can not only protect the card holder, but they can also save you money. These credit card perks can be well worth your time and they don’t even require any effort on your part. You don’t have to pay any extra fees or participate in any sort of rewards program. You can save yourself some money on things like rental car insurance, warranties and more. And, the best part is that all this is free!
Warranty and Price Protection
Many credit cards provide their cardmembers with a warranty protection program that is in place to safeguard the purchases you make with your credit card. When you make a purchase with your credit card, the purchase may be automatically protected under your credit cards warranty plan. You can think of it like a back up you have in case something goes wrong with your purchase. Each card company has it’s own guidelines that must be followed, but having a perk like this can save you money and alot of headache. Sometimes these warranties cover the item you’ve purchased for longer than the manufacturer warranty. Make sure you out the all the details about the warranty policy with your credit card, and then you can save money by getting that protection at no extra charge. Plus, you won’t need to spend money on buying anymore extended warranties.
In addition, your card might also provide you with price protection. This comes in handy when there is a price reduction on an item you have purchased. Some credit cards will credit you the difference between what you paid, and the new price. Typically, you will be eligible for a credit if there is a price drop within 90 days of your buying an item. Again, all card companies work different so be sure to check out all the details so you understand their policy fully.
Traveling Insurance and Perks
Many credit cards also come with traveling perks that can save you money and help you out when you’re traveling. One of the best perks is rental car insurance coverage. You can get this coverage through your credit card company which means you don’t have to pay the rental card company for insurance. Make sure you find out about the requirements ahead of time and keep in mind you must rent the car with the credit card that provides the insurance coverage. You will probably have to sign a waiver declining the insurance coverage from the rental card company.
Other travel insurance perks your card company might provide you are things like lost baggage insurance, trip cancellation insurance and travel accident or travel emergency insurance. Be sure to find out all the details before you book your trip and use the card to make your travel arrangements.
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