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Perks of Having A Credit Card

A lot of people use a credit card and think that the only perk to having one is that you can pay for things you buy later.  However, that is definitely not the only advantage to having a credit card.  In fact, besides all the rewards cards, there are also a lot of perks that comes standard with every credit card.  Again, these are perks that everyone is entitled to; all you have to do is ask.  Here are some of the perks available to you if you would just ask.

Extended warranty

Anything you buy with a credit card will have an extended warranty beyond the manufacturer’s warranty.  So instead of buying a store’s warranty, just buy it with your credit card next time.

Trip cancellation coverage

If you made a trip purchase with your card and some extenuating circumstances come up, you can cancel you ticket and your credit card will refund you the money you spent on the ticket.  What the limit is for the refund is dependent on your card.

Roadside assistance

Your credit card will most likely have a car assistance program where if your car breaks down, you can call your credit card company to have them send someone to jumpstart or tow your car.

Guaranteed Returns

If you buy an item that gets lost, stolen or destroyed within a certain amount of time, your credit card company will cover the cost of replacing or repairing it, even if the store won’t take it back or refund you your money.

Price Protection

Most stores offer to refund you your purchase amount if you’ve found a cheaper price somewhere else for the same product.  However, that offer only lasts a few days after your initial purchase.  However, Visa and Mastercard offer price protection of up to two months.   If you see a price of a product you’ve purchased has dropped within two months, they will refund you your money.  Some exclusions may apply.

Purchase Protection

Some cards offer purchase protection so that if you damage a product you bought, they will refund you the purchase price.  Of course there is a time limit on the purchase protection.  For instance, American Express’ business credit cards offers purchase protection of up to 90 days.

These are very common perks of credit cards.  However, in order to find out if your specific credit card has the above perks, it is best to ask and check before assuming anything.  And remember, don’t get carried away with credit cards; it is extremely important to maintain good credit as that FICO score will follow you everywhere.

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