Credit cards are not just a means of making purchases; they also offer numerous perks and benefits that can help you save money and enjoy exclusive privileges. Many cardholders are unaware of these hidden gems, which can provide significant value if used wisely. In this blog post, we will explore some of the most valuable and lesser-known credit card perks and benefits that you should be taking advantage of.
Price protection is a valuable benefit offered by some credit cards that can save you money when an item you purchased experiences a price drop. If you find a lower price for the same product within a specified period, typically 60 to 90 days, your credit card issuer may refund the difference. Be sure to keep your receipts and monitor price changes on items you've purchased to take advantage of this perk.
Many credit cards automatically extend the manufacturer's warranty on eligible items purchased with the card. This can provide you with additional peace of mind and potentially save you money on repair or replacement costs. The extended warranty typically lasts for one additional year, but some cards may offer even longer coverage. Check your card's terms and conditions to see if this benefit applies to your purchases.
Purchase protection is another valuable benefit that can save you money in the event of theft, damage, or loss of a recently purchased item. Depending on your credit card, this coverage may last for up to 120 days from the purchase date and reimburse you for the cost of the item. Be sure to review your card's specific terms and conditions to understand the limits and exclusions for this coverage.
Cell Phone Protection
Some credit cards offer cell phone protection, which can cover the cost of repair or replacement if your phone is stolen or damaged. To take advantage of this perk, you typically need to pay your monthly cell phone bill with the eligible credit card. Be sure to check your card's terms and conditions for coverage limits and exclusions.
Travel Perks and Insurance
Many credit cards offer travel-related perks and insurance coverage that can save you money and provide added convenience while traveling. These benefits may include rental car insurance, trip cancellation or interruption coverage, lost luggage reimbursement, and access to airport lounges. Review your card's benefits guide to see which travel perks are available to you and how to take advantage of them.
Cashback Bonuses and Rewards Multipliers
While cashback rewards are not necessarily hidden, some credit cards offer rotating categories or special promotions that can help you earn bonus rewards. Be sure to keep an eye on your card's promotional calendar and enroll in any bonus categories to maximize your cashback earnings.
Exclusive Events and Experiences
Some credit card issuers offer cardholders access to exclusive events and experiences, such as pre-sale tickets, VIP access to concerts, or private dining experiences with renowned chefs. These benefits can provide unique and memorable experiences that may be difficult to access otherwise. Check your card's benefits guide or issuer's website for information on available events and experiences.
Credit card perks and benefits can provide significant value if you know how to take advantage of them. By familiarizing yourself with your card's lesser-known perks and actively using them, you can save money, enjoy exclusive experiences, and get the most out of your credit card. Don't let these hidden gems go to waste – start maximizing your card's benefits today!