Did you know that, for most people, the number one reason for paying with plastic is to earn rewards
is this your main use of credit cards
You might be surprised to learn that your credit card benefits programs -.? if used strategically - can end up being more valuable than the rewards you earn!
The following are ten of my favorite benefits.
As a warning to keep the lawyers happy, let me say that you should contact your card issuer for rules, limits and exclusions surrounding each advantage.
1. Purchase Protection
Did you know that some credit cards, eligible purchases are automatically covered for the first 0 days against theft and some forms of accidental damage?
For example, if you bought a new pair of sunglasses and dropped them on the sidewalk a month later, your credit card company may reimburse you for damages.
there is this advantage over most American Express, Visa Signature and World MasterCard. But among these, I find that AmEx's terms and easier to use conditions.
2. Extended Warranty
Most cards offer purchase protection will also be provided an extended warranty.
What does this mean?
Well, for qualifying purchases that come with the guarantee of the United States of a manufacturer, this advantage will give you up to double the length of the cover (with a maximum of one additional year) .
So, let's say you bought a new computer that came with a guarantee of 12 months manufacturer for parts and service (which is typical). Then, after 18 months, the hard drive crashes (which, unfortunately, is fairly typical). Call the customer service of your credit card and file a claim for it -. Even if your initial 12 month warranty has expired, they will reflect coverage during 13-24 months
3. Protection Return
Have you ever tried to return something, only to have the store refuse?
Last summer it happened to me when I tried to return a shirt (it was too big on me). It turns out that the store had a return policy of 30 days and I am only 2 days beyond
Fortunately, I had bought with my AmEx card -. I called them and they refunded me the purchase of $ 55 as a credit instruction
the rules of this service vary by issuer map, but generally it works like this :. If you try to return an item in new condition within 60 or 0 days and the trader refuses, you can get a refund for it to a certain amount (with my card, it is $ 300 per item, with a maximum of $ 1,000 per year).
4. Price Protection
This is probably my least favorite. Why? Because it comes with a lot of rules and exclusions.
But if you are able to jump through the hoops, it provides coverage on eligible purchases if they fall in the price in the first 60 days.
Unfortunately, very few credit cards include this benefit. Outside Citi, the only other that I know are the Chase Sapphire Preferred card and Freedom. AmEx interrupted their price protection several years ago.
5. Book Release Time
being stranded in an airport is never fun. Not only do not waste your time but also your money. As a captive audience, you are thank you for overpriced restaurants of the airport and convenience stores.
However, if you paid for your trip using a credit card, providing "travel delay" will be helpful.
There reimburse the costs you have to incur during a period, such as meals, personal care items, and even a hotel room if necessary.
The bad news? In general, this benefit will not kick in unless your trip is delayed more than 12 hours and it must be due to a covered event.
6. Delayed luggage cover
As you can guess from the name, it provides coverage if your baggage is delayed at your destination.
The bad news? Like the above advantage, it will not blow unless your baggage is delayed for a significant amount of time.
For example, the Sapphire Preferred, the period should be 18 hours. After that, Chase will reimburse "emergency purchase the" eligible items
7. Lost Luggage Reimbursement
ever lost or stolen bag Hopefully not -.? But if it happens - call your credit card company because you may be entitled to compensation if you paid for the ticket using their card warranty usually covers both hand and checked baggage during travel public transport [
Make sure to read the fine print on this, because there are exclusions and coverage is secondary (which means they will pay if your claim amount exceeds the coverage of the airline ).
8. Concierge Service
in a word, it is a 1-800 number that you can call 24/7 to help with things like bookings meal, planning a trip, shopping for a gift, and just about anything you can think of another.
There are ten years, if you wanted this advantage you would have to shell out a whopping $ 450 fee for American Express Platinum or another high-end card.
But guess what? Now, there is a concierge service on tons of no annual fee cards like Chase Freedom, Citi Dividend and Capital One Cash Rewards. All Visa and MasterCard World Signature included.
9. Roadside Assistance
This is a common advantage, but be careful, because I find that many card issuers are doing a bad job explaining how it works.
Typically, the credit card company will only make arrangements for you to get roadside assistance. The actual cost of the service will always be your responsibility.
On the other hand, even if they are simply "fix", they do it at pre-negotiated rates. This can save you a lot of money compared to what you would pay on your own.
When I need a jump start, I called a local towing company that wanted to charge me $ 0. But with Visa do it for me, they got their negotiated rate of $ 59.95.
10. Cell Phone Insurance
Last but not least, we come to one of the most unusual benefits, you will find; cell phone insurance. There were a handful of cards that included, but now there is only one that I know and that is the Citi Forward (which has no annual fee).
To be eligible for this insurance, you have to pay your cell phone bill each month using the Citi Forward card. If you do this, you get automatic protection against damage or theft up to $ 250 per claim (with a $ 50 deductible). This might not be enough money to replace an iPhone, but it will definitely help to cushion the blow.
Does your credit cared benefits program have one of these benefits?
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