While some believe that credit cards are entirely evil, there are some credit cards that come with perks that can be well worth your time and effort. Indeed, a number of credit cards have less advertised perks, as opposed to airline credit card deals that we all hear about frequently, there are other great incentives that many of us don't realize are available — no special rewards program or extra fee required. If you are interested in saving money on things like rental car insurance and warranties, check to see what kind of perks your credit card comes with.
Warranty and Price Protection
Some credit cards offer you extra warranty protection on items you buy entirely with a credit card. These warranties sometimes cover the items for longer than the manufacturer warranty. Find out the warranty policy with your credit card, and then you can save money by getting that protection at no extra charge — no need to buy an extended warranty.
You might also have price protection. Some credit cards will credit you the difference between what you paid, and the new price, if there is a price drop within 90 days of your buying an item. This can help you avoid the buyer's remorse that can come when something goes on sale a week after you bought it.
If you want to take advantage of these credit card perks, you will need to understand the policies, and make sure that you save receipts and other documentation that the credit card issuer may ask for.
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Travel Insurance and Perks
Many credit cards also come with travel perks that can save you money. One of the most useful perks is rental car insurance coverage. Instead of paying for it at the rental car company, you can get it through your credit card. Pay for the car rental with the credit card, and you are likely to be covered. Make sure you find out about the requirements ahead of time. You will likely have to sign a waiver at the car rental place declining that coverage. Make sure you know exactly what your credit card issuer is insuring against.
Other travel insurance perks that may come also include lost baggage insurance, trip cancellation insurance and travel accident or travel emergency insurance. Before you book your trip, find out what your credit card offers, and then use that card to make all of your arrangements.
Waive a Fee
Some credit card issuers will allow you to waive one fee each year, just for asking. (Some require that you have an account in general good standing for this.) If you are a good customer, you might be able to convince your credit card issuer to waive an annual fee, cancel a balance transfer fee, or lower your interest rate. It's not exactly a perk, but it's something that can save you money.
Many of us pay for things that we don't need to pay for — because they're already provided by a credit card. You can call your credit card issuer, or request a copy of perks, so that you understand what you already have for no extra charge. And, before you use your credit card, make sure you understand the requirements and policies associated with them, so as to avoid nasty surprises.