Are you missing out on some credit card benefits simply because you don’t know about them?
The list below gives you an idea of some of the hidden benefits you might find if you read the fine print in your card agreement carefully. (You know, the stuff you usually skip over.) Be aware that there are usually restrictions and certain conditions that you have to meet before some of these benefits apply.
Purchase your airline tickets with your credit card and you may get some pretty nice perks:
#1. Your fee for your first piece of baggage (or more than one piece of baggage) may be waived by certain airlines.
#2. During layovers, you may get to relax in one of the travel lounges reserved for an airline’s special customers during layovers.
#3. If your luggage is delayed more than three hours in reaching your destination, your card might cover the cost of replacing personal items such as, clothing, personal hygiene products, general office supplies, etc. (That’s up to a certain limit, of course, but some cards may go as high as $500.)
#4. Credit card companies may also pay to replace your lost luggage if it never turns up.
#5. Renting a vehicle? Use the right credit card and it may provide some secondary insurance (after your regular vehicle insurance policy) to cover collision damage or losses due to theft.
#6. Check your card before you book your hotel. Some offer a percentage off regular room rates and/or special perks like upgraded rooms and discounts on food and beverage purchases.
#7. It’s annoying when you make a purchase and see the same item advertised at a lower cost a week later. Some credit cards will cover the difference (within a set time period like 60 days), providing you can show them a printed advertisement or a non-auction Internet advertisement for the same product. Be prepared to prove that it’s the same manufacturer and model number as the item you bought.
#8. Some credit cards may extend the manufacturer’s warranty on a certain products for as long as a year, as long as you’ve used your card to purchase the item.
#9. Are you trying to raise your credit score or keep it high? Some credit cards will provide your FICO credit score on a monthly basis, so you can keep track of how you’re doing. Others offer some type of identity theft protection services at a reduced cost.
#10. Discover offers an online spend analyzer that divides your purchases into categories so you can see just where your money is going. Being able to track spending at supermarkets, retailers, medical services, restaurants and automotive can be a big help when you’re trying to stick with a monthly budget
If the perks your credit card offers aren’t something you’d use often, consider applying for a card that would offer something better for you. Just be sure to consider other factors like interest rates and fees before you make your choice.