Most people are only using their credit cards to make purchases. Few people actually know that their credit cards may have a number of other benefits that come with the card.
Perhaps its time that you discover what other benefits you may be missing out on, and learn how some of these credit card benefits could save you a lot of money.
Recent changes in the laws that affect credit card companies does not mean that you have to get less out of your credit card perks. Many credit cards have perks that most people are unaware of, and as few as 15% of credit card holders actually use, says Robert McKinley, at CardWeb.com. Here are some of the benefits you need to be aware of, according to Aleksandra Todorova at Smart Money.
Car Rental Deductible Waiver
One such credit card benefit is that you can get reimbursed for the deductible amount on your car insurance policy if you get in an accident with a rental car. Other charges are also apt to be covered, too. There is a limit, however, of 15 consecutive days that you can rent the car and have this coverage.
Warranties May Be Extended
Another benefit that a credit card holder may be able to get is that a warranty may be extended to twice that of the original warranty. This can be a great way to save money if you buy a number of items each year and are accustomed to buying extensions on your warranties. There are some limitations on this deal, however, and you need to be aware of what they are before you buy. It typically does not cover cars, boats, and certain devices.
Protection for Your Purchase
Credit card perks may also include a reimbursement of an item that is damaged or stolen within 90 days after you buy the item. Refunds may be limited, however, to a certain dollar amount. Visa, for instance, will give you a maximum of $500 in the way of a refund, but certain types of items may go up to $1,000. There are some exclusions, however, which includes a lack of diligence on the owner’s part to protect it.
Check Your Benefits
It is quite possible that your credit card may contain other perks that you have either forgotten about – or possibly were never aware. Some benefits are nice to have and could save you considerable money each year. Some reward’s cards give discounts on tickets, cell phones, and maybe even free credit scores.
Each of these benefits alone can really add up, giving you a lot more power with your credit card. Other benefits that your card may have including reimbursement for lost luggage, roadside assistance, and more. Generally, the details on these credit card benefits are in the small print on your card booklet your received. Read it again and learn what you have been missing out on for a long time.
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