March 8, 2018
• 4 Minute Read
Credit Cards use a number of benefits to entice users to use their credit cards. These cover the usual airline miles, hotel stays, and cash-back offers. However, many credit cards offer little-known benefits and unusual enticements that most people aren't aware of and never use.
Depending on what card you have, these perks can provide substantial savings and convenience. Here are 8 unusual credit card benefits you should be taking advantage of right now.
1. Luggage Protection
Many credit cards offer various kinds of luggage protection when you purchase a flight with your credit card. Whether your luggage is lost, delayed or damaged, many credit cards will cover expenses incurred over the delay or reimburse you for damages or lost luggage items (within reason).
Beyond reimbursing you for expenses incurred because of a delay, your credit cards may also reimburse you for purchases made as a result of lost or delayed luggage provided they fit the cards outlined parameters. See your cardholder agreement for details.
2. Rental Car Insurance
Skip the costly insurance offered by most major car rental companies- you are likely already covered for the rental through your credit card! Most major credit cards cover car rental insurance when you pay for your rental with your credit card. Often the insurance comes at no cost to you, you qualify simply by using the credit card. The insurance is generally comparable to that offered by the rental company, so you can rest easy — you're covered.
Some car insurance perks are valid abroad and domestically, saving you even more money and providing added convenience on overseas trips. Make sure you check the terms before booking your next rental car adventure.
3. Purchase Protection
Nearly all credit cards offer some kind of purchase protection when you make purchases with your credit card. This purchase protection can protect you against damage, theft, and defect for a given time after the purchase. If you experience a problem with a purchase made on your credit card, often the card company can resolve problems for you.
Most coverage covers up to $5,000 per claim up to $50,000 a year. However, each company has their own coverage amounts, so check your agreement.
4. Price Protection
There is nothing more irritating than making a purchase, only to find that item a few days or weeks later with a price tag that is drastically reduced. Many credit cards offer protections that allow you to be reimbursed for the difference between the price you paid and the new, lower price. Some cards will refund you up to $500.
Be sure to know what is included and what is not. Collectibles, cars, jewelry, boats, concert tickets, and other items are usually excluded, but that still leaves many items that can be covered.
5. Extended Warranties
Most of us forgo the option to purchase an extended warranty for our new TV or computer. However, if you purchase with your credit card, you may qualify for an extended warranty on your big-ticket purchases, simply by using your credit card to buy it.
If a TV or computer fails to continue working within the cards provided extended warranty, the card will usually pay to have a repairman come take a look. If the repair cannot be made, they may simply refund the price to your card- even several years out.
6. Early Access to Concert Tickets
Many cards offer perks for concert goers and entertainment buffs in the form of early access to tickets or events that sell out quickly. Generally, the higher level card holder you are, the earlier your access is. This rewards brand loyalty and gives you a chance at concerts that sell out fast. Other cards offer low price tickets to events, or even put on events, packages or gatherings exclusively for their cardholders.
Check your credit cards terms and watch for updates on your favorite artists and events.
7. Trip Cancellation Insurance
If you have a last minute change of travel plans and need to cancel a trip, your credit card company is often more forgiving than the airline. Instead of purchasing the added travel insurance, if you purchase flights and accommodations with your card, you will already be covered through the cards trip cancellation insurance.
8. Airport Lounge Access
A few cards include access to swanky airport lounges if you purchase your tickets with their card. When booking your flight, check to see where your layovers are and ask what lounges are available. Your credit card may be your ticket to fresh fruit and free water, safely guarded from the airports crying infants. The free WiFi doesn't hurt either. Wait for your connection in style and let your credit card open the door for you- free of charge.
Check with your credit card provider before you begin to travel to verify where access will be permitted and their policy on guests. Many lounges will allow you to bring guests with you, even if they are not cardholders themselves.
Signing up for a new credit card
If you’re looking to get more from your credit card, check out these cards which offer great rewards and other perks.
Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles. The information is accurate to the best of our knowledge when posted; however, all credit card information is presented without warranty. Please check the issuer’s website for the most current information.