Credit Card Perks (#6 Is My Favorite!)
Everyone already knows about the obvious benefits of having a credit card like rewards. Please, please, please tell me you picked a credit card with some kind of rewards program. You can pick travel rewards or cash whichever suits you best just make sure you’re getting something back. It is also important to say that you should ALWAYS pay your balance in FULL each month. There is no amount of rewards or benefits that are worth carrying a balance and paying those hefty APR’s. I would double check with your credit card but all of these benefits apply to almost every one of them. Just make sure you make the purchase on the card.
- Rewards: This one you probably already knew about but many cards offer either cash back or travel points that can be redeemed towards airline miles.
- Concierge services: Looking for tickets to an impossible to get game or show? Call your credit card! I am not saying it will be cheap but they will probably be able to find those tickets for you.
- Car rental insurance: Don’t pay for car rental insurance. Most likely your credit card will cover you up to $50,000.
- Trip- cancellation insurance: If you get sick and can’t travel your airline is probably going to charge you crazy fees to re-book. Just call your credit card company. They will help cover those fees up to $1000 per year.
- Identity theft: They will notify you if they see unusual charges on your card. They also have a $0 guarantee so you are not responsible for any fraudulent charges on your account.
- Automatic warranty doubling: Many cards will automatically extend the warranty on your purchases. For nearly every purchase you make, if your item breaks after the manufacturer warranty expires, your card company will cover it for an additional year. I used this once when my camera broke 4 months after the warranty expired. My credit card paid to replace it!
- Easy way to track spending: Your online credit card account is a wealth of knowledge. It will make you pie charts and all kinds of ways to show you how and where you have been spending your money. This is great for people trying to budget.