6 Credit Card Secret Perks
Credit card providers offer additional benefits, which most of us are not aware. If you add up all the benefit it is worth more than the points and rewards that we get out of credit cards. Watch this video to find out the hidden secret perks of credit cards
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Sources:
https://www.usbank.com/splash/credit-...
https://www.americanexpress.com/us/cr...
https://www.wellsfargo.com/credit-car...
https://www.chase.com/card-benefits/s...
https://www.bankofamerica.com/credit-...
https://www.wellsfargo.com/credit-car...
https://www.citi.com/credit-cards/cre...
https://www.discover.com/credit-cards...
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6 hidden perks of credit cards
We use credit cards mainly for the convenience of the transaction and the rewards including cash back and travel points. Some valuable card benefits are hidden in the fine print. Most of us don’t know or forget in making use of the little perks that come with the credit card. Some of them even offer cell phone protection, which is up to $1200 per year with a limit of two damages a year. Let’s see some of the most common perks among the credit card providers
1. Extended warranty protection:
Next time when a cashier offers for you to buy the extended warranty on a product, you can just decline it. Credit card providers offer extended warranty protection added to the original manufactures’s warranty and the warranty period starts only after the manufacturer’s warranty expires. Depending on the type of card, the warranty coverage limit ranges from $500 to $10,000 and warranty period somewhere between 1 to 3 years. Just remember, you need original receipts to make the claim.
2. Auto Collision damage for rental cars:
If your rental car is damaged, you don’t have to file a claim with your auto insurance if you have a credit card provider that offers primary coverage. You also don’t have to risk your insurance premiums going up. Credit card companies provide two types of Auto collision coverage. Primary and secondary coverage. Primary coverage kicks in first even if you have an auto insurance. secondary coverage picks up the tab for anything your auto insurance doesn’t cover. Depending upon on the type of credit card provider, you can claim up to $50,000 for a rental limit of 15 days. Just use your credit card to make the rental reservation.
3. Trip Cancellation/Interruption Insurance:
We all know it, Sometimes things happen. If your immediate family member is suddenly hospitalized, you’re called to jury duty or an airline ceases operations and cancels the flight, Your travel cost can be reimbursed by the credit card company if the reservation is made using the credit card. Depending upon the credit card company claim limit, your savings could vary from $5,000 to $10,000
4. Lost luggage reimbursement
We all know airlines can place your luggage in an entirely different city, or you could easily board while your luggage does not. If this happens, do not panic, stay calm. Credit card benefits are applicable here, and they provide reimbursement for expenses when your bags are delayed. Based on the card provider, you’re eligible for the benefit if the bags are delayed by 3- 12 hours. And the spending limit per day varies from $100 to $500. Of course, receipts are needed to get the expenses reimbursed.
5. Return protection
Most of the stores you go to have return policies. What if you wanted to return an item after a return policy expires. Some credit cards extend the return policy period if you made the purchase using that card. To make this claim, you might need a written document from the store stating its refusal to accept the item. Coverage limit ranges from $250 to $1000 and number of claims in a years varies by the card provider.
6. Purchase protection
If something you buy with your credit card is damaged or stolen, then make a claim with your credit card provider depending on the purchase protection policy. Most of the providers will look for a police report to process the claim. This coverage is typically limited to $1000 to $2500 per year. And there is limit on number of days you can make a claim after making a purchase.
There you have it. We covered only the most common perks and there are certainly more out there depending on the card you have. Of course, all the benefits that are mentioned in this video are subject to change and eligible claims vary across credit card providers. This video is not a sponsored video. Please post your thoughts on the comments section below. If you like this video and want to watch more, just hit like and subscribe to our channel
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