Credit Card Perks and 16 Benefits You Should Know About

Credit Card Perks and Benefits You Might Not Know About

Credit cards provide you with a convenient way to pay for goods and services online and in person. They also make it easy for you to track and control spending. However, many credit cards have exceptional perks that their account holders seldom take advantage of. If you fall into this category, you may be missing out on savings and more. By learning more about overlooked credit card perks and benefits, you can better control how you use your credit cards.

Credit Card Perks and Benefits of Having a Credit Card

Top 16 Credit Card Perks

1. Insurance on Purchased Items

It can be burdensome and even devastating when an item that you just bought is lost or damaged. Some big ticket items may cost several hundred dollars or more to replace. Your other insurance policies may not cover the loss, but your credit card protection may. Many credit cards offer purchase protection that will fully reimburse you on items that are damaged, lost or stolen. Read the fine print on your credit card agreement to determine if this coverage is available to you. Making this effort could save you hundreds of dollars or more.

2. Price Protection

Everyone wants to get a great deal on purchases. Unfortunately, many people will spot a better deal on an item they recently purchased. In some cases, this can be a substantial difference, and you may be wondering how you can take advantage of the savings. Price credit protection plans available on some credit cards may reimburse you the difference or offer you a full refund on the item. Typically, this offer is valid for 30 to 90 days from the date of purchase. The rules vary, so contact your credit card provider for details. Remember to keep your receipts on major expenses to take advantage of this perk.

3. A Warranty on Your Purchases

When you purchase everything from appliances to electronics, you may be offered an extended warranty for an extra charge. Credit card warranty protection give you peace of mind when making major purchases, but they can be expensive. Your credit card may offer you extended warranty coverage. Therefore, you may not have to pay for the warranty from the retailer to enjoy this benefit. You can save your money and still enjoy extended warranty protection when you make your purchase with your credit card. Check to see if your credit card benefits include this perk.

4. Roadside Assistance

Accidents and mishaps happen to drivers all the time. They can leave you stranded with no way to get home. Some people pay extra money for their auto insurance to enjoy the benefit of roadside assistance. However, this service may be available to you for free through your credit card perks. Learn about the availability of this credit card benefit through your current accounts. If you have this benefit, consider removing this benefit from your auto insurance to save money on your premium.

5. Travel Protection

Unfortunate things can and do happen when you are traveling. For example, you can get sick, or you something may be stolen from your hotel room. Many credit card benefits include travel protection that reimburses you for a broad range of circumstances and events. These card benefits can be extensive and day-saving in some cases. Before your next trip, ask your credit card provider about the perks available to you. Then, you will know exactly who to call if your trip plans go awry.

6. Travel Benefits

If you travel frequently, you may love the credit card travel perks available to you. Perks vary by credit card. However, you can enjoy priority boarding and free checked bags with some airlines. You may also enjoy discounts on in-flight purchases and no foreign transaction fees. These perks can save you a small fortune when you are traveling. Educate yourself about these travel card benefits today.

7. Airport Lounge Access

If you have never accessed an airport lounge area, you are missing out on an incredible feature. Airport lounges may have more comfortable seating, complimentary snacks and drinks, upgraded services and more. There is a fee to access the airport lounge area, but your credit card may grant you free or discounted access. These airline credit card perks are ideal when you have a long layover and want to relax comfortably.

8. Online Shopping Discounts

If you love to shop online, you should check to see if your credit card benefits include online discounts. There is often a direct portal that you must access through your credit card company’s website when shopping. Then, you can enjoy substantial discounts on the items you need or want. Many popular retailers participate with these shopping discounts with their own retail store credit card. This may even include your favorite retailers.

9. Direct Retailer Discounts

In some cases, you may be able to enjoy savings on purchases you make directly with retailers. Some retailers are affiliated with specific credit card companies. Learn which retailers or restaurants your credit card company is affiliated with today to save on future purchases. The savings should be applied immediately at the time of purchase when you use your credit card.

10. Savings on Rental Cars

Renting cars can be expensive, and this holds true whether you are traveling or renting a car in your hometown. Some credit card companies offer great discounts on rental car rates. This can save you a small fortune on your next trip or when your car is in the shop. Learn which rental car companies are associated with your credit card perks before making a reservation.

11. Rental Car Insurance

Some credit card perks also include rental car insurance. When you rent a car, the agency will typically recommend that you buy insurance. This insurance can be very expensive in some cases. Because the coverage that you need may already be available through your credit card company for free, it may not be needed. Save yourself money by learning about this credit perk before you rent your next vehicle.

12. Credit Score Alerts and Credit Card Alerts

You may not think about a credit card helping you with your credit rating. However, some credit card companies offer credit score alerts and monitoring services. They will monitor your credit score and alert you if your score dramatically drops. They may also send a credit card alert if you have strange activity on your credit card. Even when credit card fraud is not an issue, it is great to know if there is negative movement on your credit rating. You may be able to access this information by logging into your credit card account online.

13. Concierge Services

You may think that concierge services are only available for the wealthy, but this is not true. Some credit cards offer concierge services to their account holders. These might assist you if you lost a bag while traveling or if you want help finding a great deal on a high-end hotel room. If you have a high-end credit card, you may even receive personal assistance services through your account.

14. VIP Treatment

Getting the VIP treatment periodically can add enjoyment to your life, and credit card perks can make this happen for you. Some credit cards get you into VIP lounges at concerts or hot nightclubs. You may receive a special upgrade at a restaurant or in a hotel. These treatments can provide you with a luxurious, pampering experience that you will love. You do not need to be a celebrity to enjoy the VIP treatment once in awhile.

15. Entertainment Credit Card Perks

When you use your credit card to buy concert tickets, for admission to museums and more, you may enjoy perks. Everything from discounted tickets to upgrades may be available to you. Before you make entertainment purchases, review credit card perks so that you do not miss out on benefits.

16. Bonus Points and Reward Credit Card Perks

Perhaps the most well-known credit card perks are bonus points and rewards. These reward credit card points can be redeemed for merchandise, travel benefits, cash and more. The points structure and credit card benefits vary. Therefore, pay close attention to the rewards plan before you open up a new credit card. Then, use your credit card strategically to maximize the amount of rewards points you earn when making purchases.

Incredible Credit Card Perks That Credit Card Account Holders Are Not Using

Credit cards are commonly used for an easy payment method and even for added credit security with online or foreign purchases. However, many credit cards also come with incredible credit perks that account holders are not using. This is why you should use credit cards before debit cards. Now is a great time to learn more about the credit card perks that are currently available to you. Then, make plans to start implementing all of these benefits to save money and improve your life in different ways.

CreditSoup® Rewards Cards

CreditFast has reviewed the best reward credit cards on the market. Some of the credit card offers are from our advertising partners. CreditFast has objectively reviewed the features and benefits of each reward credit card. We have chosen credit card offers based on our editor’s recommendations.

Monica Kowollik

Director at CreditFast.com
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.

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