Are you getting the
most out of your credit cards? Most credit card users focus primarily on key
terms such as the interest rate and annual fees, and rewards in the form of
points, miles and cash back. But beyond these important terms and valuable
rewards lies another realm of credit card perks that few customers bother to
explore, such as those that protect your purchases and
others of you that guarantees you against travel problems.
Here are eight
credit card perks that you can not take advantage.
1.Rents Car Insurance
Representatives
at rental car companies have become experts at convincing travelers to purchase
the additional insurance that they sell. But not only is this additional
coverage expensive, chances are most people who pay for their rental with
a credit card are covered by their card. To be sure, check with your credit
card issuer that your card offers this kind of policy, often called a collision
damage waiver. In addition, be sure to find out what is excluded, such as
certain types of trucks and luxury cars.
2. Protecting The Rights Purchase
Many
credit cards offer some form of purchase protection that covers eligible
purchases against losses due to theft or accidental damage. For example, the Discover it card (full review here) will cover your eligible purchases for
up to $500 if they are damaged or stolen within 90 days of purchase. View your
card’s guide to benefits to see if it offers similar protections, and note any
excluded items such as parts for motorized vehicles.
3.Return Guarantee
Some
credit cards offer a return guarantee policy that can protect you when a
retailer will not accept the return of a covered item. For example, American
Express offers a return protection policy on many of its cards that will cover
eligible items within 120 days of the date of purchase.
4. Price Of Protection
When a
covered item experiences a price drop after a purchase, your credit
card may refund the difference.
5.Product Warranty Extension
Many
credit cards offers some form of extended product warranty coverage that can
add an additional year to the manufacturer’s warranty of covered items.
Typically, these policies will double the manufacturer’s warranty up to one
year and add an additional year to warranties that are already one year or
longer. Just be sure to save the receipt for your purchase and a copy of the
credit report in case you need to file a claim.
6. Trip Cancellation Insurance
Many travel rewards credit cards offer
some form of trip cancellation and trip interruption coverage. For example, the Chase Sapphire Preferred card can reimburse you for up to $5,000 of
non-refundable costs if your trip should be canceled due to the illness or
death of a cardholder or family member traveling with the cardholder. It also
covers you in the event of delay or cancellation due to severe weather.
7. Lost Luggage Insurance
This
benefit can repair or replace your items that are lost or damaged while
traveling on common carriers such as aircraft, buses…
8. Global Entry Application Reimbursement
One of the
most time-saving perks offered to travelers is membership in the Global
Entry program, operated by the U.S. Customs and Border Patrol. Members are able
to quickly clear customs and immigration upon arrival in the U.S. by aircraft.
In addition, being a member affords travelers access to the expedited security
offered by the TSA’s Pre-Check program.