When most of us think about credit card rewards, we often focus on the points we can earn from purchases, or perhaps the cash back or airline miles on offer. These are the headliners that card companies promote heavily. However, nestled in the fine print are an array of lesser-known perks that can be equally valuable.
From protections on purchases to travel-related benefits, these often hidden perks can make a significant difference in our experience with a card. But to tap into these advantages, it’s crucial first to know they exist in the first place, and then understand how to use them.
Travel-Related Benefits
Navigating the travel world can be both exciting and, at times, challenging. Fortunately, many credit cards come equipped with under-the-radar travel benefits designed to offer peace of mind on your journeys.
- Trip Delay or Cancellation Insurance: Ever had a last-minute hiccup ruin your travel plans? It’s frustrating and often costly. With trip delay or cancellation insurance, you could be reimbursed for unexpected expenses like hotel stays or meal costs if your trip is delayed. If you’re forced to cancel due to unforeseen events like illness or severe weather, this insurance can also cover non-refundable travel expenses.
- Car Rental Damage Coverage: When renting a car, the rental agency might push their insurance coverage, which can be pricey. However, some credit cards provide primary or secondary rental car damage coverage as a built-in perk. This means if there’s any damage to the rental car, your card could cover the costs, saving you from buying the rental agency’s insurance.
- Lost Luggage Reimbursement: While we always hope our luggage arrives with us, sometimes it goes on its own adventure. If your baggage is lost or delayed, specific credit card benefits can provide reimbursement for essential purchases like clothing or toiletries while you await your belongings.
By familiarizing yourself with these travel-related benefits, you can see if your card provider (or future card provider) offers these benefits for you! But, travel-related perks isn’t the only perk a card may offer.
Protective Perks for Purchases
Credit Card providers also offer protective measures that amplify the value of your purchases. By leveraging these, you can shop with an added layer of security and peace of mind.
- Extended Warranty on Products: It’s always a bummer when a newly purchased item starts malfunctioning shortly after its manufacturer’s warranty expires. Enter the extended warranty feature of many credit cards. When you make a purchase using such cards, they can automatically extend the manufacturer’s warranty, giving you additional coverage at no extra cost.
- Purchase Protection Against Damage or Theft: Accidents happen, and so does misfortune. Maybe you just bought a new smartphone and accidentally dropped it, or perhaps your recent purchase got stolen. With purchase protection, your credit card can cover repairs or even reimburse you for items that are damaged or stolen shortly after buying.
- Price Protection for Refunds on Price Drops: Ever experience buyer’s remorse when something you bought goes on sale right after? Price protection can come to the rescue. If an item you’ve purchased using your credit card drops in price within a specific window, your card may refund you the difference, ensuring you always get the best deal.
By utilizing these protective perks, you have silent guardians protecting you, ensuring that your hard-earned money always fetches maximum value.
Lifestyle Enhancements
Credit Cards can also act as lifestyle enhancers, quietly working behind the scenes to provide services that add convenience, safety, and luxury to our lives.
- Roadside Assistance and Emergency Services: Stranded with a flat tire or an empty gas tank? Some credit cards offer roadside assistance, which can be a lifesaver in these unexpected scenarios. This service may include jump-starting your car, towing, changing a flat tire, or even delivering a few gallons of fuel. It’s like having a guardian angel on speed dial, ready to assist whenever vehicular trouble strikes.
- Complimentary Concierge Service: Ever wished for a personal assistant to book your dinner reservations, secure event tickets, or even recommend a gift for a special someone? With the concierge service offered by select credit cards, this wish becomes a reality. Think of it as your personal hotline to a smoother, more organized life. However, it’s worth noting that this is only offered on a more premium credit card.
- Cell Phone Damage or Theft Coverage: In today’s digital age, our smartphones are essential. Understanding the device’s importance, some credit cards offer coverage against damage or theft. This means if your phone meets an unfortunate fate, your credit card could cover the repair or replacement costs.
These lifestyle perks, while sometimes overshadowed by the flashier rewards or cash back benefits, provide tangible value. They’re designed to make life’s little (and big) hiccups more manageable, and in some cases, even delightful.
Conclusion
When it comes to credit cards, the rewards, cash back, or travel points might be the things that initially catch our attention. However, as we’ve explored, there’s a world of valuable perks lying just beneath the surface. These lesser-known benefits can often provide as much, if not more, value than the more commonly advertised features.
It’s essential to recognize that every credit card is like a multi-faceted gem. While the sparkling points and cash rewards might be its most prominent features, the underlying perks, from travel protections to purchase safeguards, hold immense value in their own right.
