Secret Credit Card Benefits You Never Knew You Had

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Most credit cards have perks, reward programs, or added benefits attached to them. Often, these benefits are written in the fine print and you are probably unaware you can take advantage of them.

Here are some of the awesome perks you might be missing out on:

  1. What Can You Get From a Credit Card?

Now-a-days, almost every credit card has some reward benefit attached to it. Although the higher the rewards usually come with the more expensive credit cards (the ones that charge an annual fee and have high interest rates), there are plenty of features available on low-fee and no-fee credit cards.

Some of the basic features usually are return protection, price protection, and extended warranties. For example, if your card offers return protection, you have the right to return your purchase to the store even if they do not accept returns. Or, when it comes to warranties, most credit cards double the warranty a store offers, which can be exceptionally handy when purchasing large products like TVs, appliances, or even cars.

If you have a credit card or multiple cards that do not offer any benefits, consider consolidating your cards into one account via a balance transfer credit card. “Balance transfer credit cards offer cardholders the same rewards as regular credit cards, but they provide the ability to easily combine all other accounts into one easy transaction,” Jeffrey Weber of SmartBalanceTransfers.com notes.

  1. Insurance

Most credit cards come with rental car insurance, which can provide secondary insurance coverage over your rental car. The insurance can protect you from accident damages and even cancellation fees.

Additionally, if you miss a flight, lose your luggage, or even miss something smaller such as a concert, the insurance provided by your credit card company will cover the losses so you don’t have to pay anything.

  1. Annual Fees

Depending upon how much you use your credit card, credit cards with annual fees can be worth the yearly charge. Credit cards with annual fees usually have more extensive benefits such as travel reward programs, or higher percentage cash back programs, which can provide you with more savings in the long run.

If you sign up for the American Express Platinum Card, which has a hefty $450 annual fee, companion airline tickets are a part of the package in addition to your free airline tickets. If you are a frequent flyer, this could be an extremely valuable benefit.

Most premium cards also offer points programs that give you access to airline lounges, first class tickets, and free hotel stays or upgrades.

  1. Cashing in

Most people, who have any card benefits, whether it’s cash back on all purchases or travel rewards, are unaware of these benefits and have not cashed in on them. Usually credit card bills have a section in the statement that deal with rewards, and you can call your credit card company to gain access to these rewards in order to start taking advantage of them.