SavvyMoney Daily

All The Perks

Chris O'Shea
Sep. 28, 2018
2 min read

Some lesser-known benefits of credit cards


When you sign up for a credit card, you’re likely considering all the perks that come with it — miles, cash back and more. Those are the biggies to be sure. However, it’s a mistake to disregard the other things that little piece of plastic can do for you. Beyond the basic benefits of cards are a number of “secondary benefits,” and plenty of cardholders don’t even realize they exist. In fact, a recent WalletHub study found that less than 50 percent of credit card users understand the secondary benefits available to them. Below are some credit card perks that you might have missed.

  • Price protection. We’ve all been there: You buy an item, only to see it drop in price a week later. If this has been issue for you, say hello to price protection. The way it works is if you use your credit card to buy something that later drops in price (typically within a month or two) you can get refunded the difference just by submitting a form to your card issuer. For example, some price protection offers include reimbursement up to $200 within 60 days or even reimbursement up to $500 within 90 days.

  • Additional Bonuses. Sure, sign-up bonuses aren’t exactly a secondary benefit of credit cards. While most people know about those initial offers, many cards provide additional bonuses (so long as you’re spending enough, of course).

  • Various Types of Insurance. Credit cards sometimes offer insurance as a secondary benefit. And we’re not talking just one type of insurance. Cards can feature trip accident insurance, rental car insurance, lost or delayed luggage insurance, trip cancellation or delay insurance, emergency medical insurance and even dental insurance. As with most secondary benefits, the key is to remember to use them. Rental car companies often pay their workers with commission, so they’ll try to sell you insurance when you’re already covered by your card. Be aware of the benefits you have so you can make smart financial decisions when the time comes.

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    Chris O'Shea

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