11 Less Known Benefits of Credit Cards

Reward Points, Annual Fee Waiver, Spending Milestone Vouchers, and a few more. If you can’t think of any other credit card benefits, each bullet point has a hit for you.

11 Less Known Benefits of Credit Cards

A credit card is a simple financial tool used to make purchases and build credit. Yes, we hear you, but is that all? Beyond their obvious benefits, these little plastic (sometimes metal) things provide hidden treasures that sometimes go unnoticed. In this article, we’ll try some of these hidden gems that can increase your spending power and provide unexpected value to your wallet.

Do you want to know the 11 Less Known Benefits of Credit Cards? Let’s get started!

Purchase Protection

You have just purchased a high-value item. Excited to make your unboxing video, but then you discover you’ve got yourself a damaged product. But all is not lost yet. With the Purchase Protection feature on your credit card, the cost of repair or replacement of an item is covered for a period of time. You didn’t know such a feature existed, right?

Extended Warranty

Electronics and appliances are generally prone to malfunctioning in one way or another while still under the manufacturer’s warranty. Here your credit card can provide appropriate incentives. Some credit cards offer extended warranty protection, adding a little extra coverage to the basic warranty. Think about how much you could save on construction or restoration costs down the road.

Travel Insurance

While travelers are generally aware of the benefits of travel discounts and lounge access offered by credit cards, they often overlook the full travel insurance coverage on their credit cards. Be it trip cancellation or lost chain, nothing is going to worry you during your meaningful stay.

Also Read: Unlocking the Benefits: A Comprehensive Guide to Credit Cards Cashback

Price Protection

Have you ever bought something and had the price drop immediately afterward? Shall we say you can reclaim this difference? All it does is let you check whether your credit card has a price protection feature or not. If your card offers this benefit, you can claim a refund for the price difference, so you never have to pay more than necessary.

Concierge Services

Who doesn’t want a little sparkle in their life? With concierge services on your credit card, it’s a lot easier to live life VIP style. Making restaurant reservations, booking tickets to a show, or finding the perfect gift – your card’s Concierge can help you with it all. No need to pay anything extra for these services, save time and effort.

Golf Benefits

Yes, free golf rounds and missed tee times are the perks of a credit card, but it doesn’t end there. Depending on the credit card you have, you will have access to golf courses throughout the country and established international golf events. Don’t know much about sports? Some credit cards let you take advantage of free golf lessons from professionals

Roadside Assistance

If your car breaks down, your credit card can provide roadside assistance. By calling the number on the back of your card, your provider will call a local tow truck driver for you. Then, you may have to pay for the costs with your credit card. However, some premium cardholders may get free roadside assistance. It’s not the fanciest perk in the world, but if you find yourself stranded on a country road at midnight, you might want to look elsewhere.

11 Less Known Benefits of Credit Cards

Rental Car Insurance:

Many credit cards provide rental car insurance coverage when you use the card to pay for the rental. This coverage can include collision damage waiver (CDW) and sometimes even theft protection, potentially saving you money on insurance offered by the rental car company.

 

Fraud Protection

Credit cards usually offer robust fraud protection, and cardholders are typically not held responsible for unauthorized transactions if they report them promptly. This can provide an additional layer of security compared to using cash or debit cards.

Cashback and Rewards Programs

While cashback and rewards programs are not exactly “less known,” some people may not fully take advantage of them. These programs can provide significant benefits, including Credit card cash back, travel rewards, or points that can be redeemed for various goods and services.

Credit Score Monitoring

Some credit cards offer complimentary credit score monitoring services like Experian, Crief High Marks, and CIBIL Score. Regularly checking your credit score can help you stay informed about your financial health and make more informed decisions when it comes to managing your credit.

It’s crucial to read the terms and conditions of your specific credit card to understand the benefits it offers, as they can vary widely among different cards and issuers.

Don’t assume that all credit cards offer all of these benefits. It would be a grave mistake to do so. Little hint: Look for small mistakes, do your research, and choose the card that can get you the most of these benefits. This is the way.

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  • Bansi Fatania

    Hi, I am Bansi Fatania, the Person Behind FreeLifetimeCreditCard.com. I am well familiar with a lot about financials and credit cards. I want to help you understand how credit cards and other financial things work and how to use them wisely. I write articles and tips to make managing your money easier. I am here to help you make smart financial choices and reach your goals. You may contact me on admin@freelifetimecreditcard.com