Credit Card Perks - Check Your Points

Credit cards are usually known for high interest rates and extra fees, but did you know they also have some hidden benefits? Policies vary by company, but here are five perks your credit card may provide: • Rental car insurance. One-third of drivers tend to buy extra collision insurance when they rent a car. Most credit cards include collision insurance. You could save $140 on a week’s rental, but it may not apply to trucks, campers, and SUVs. • Cell phone replacement. If your phone gets damaged or stolen (loss may not be included), certain cards such as Citi will pay for a new cell phone, although you’ll have a $50 co-pay. • Trip cancellation. A Discover card may give you up to $2,500 if you have to cancel your trip due to illness. It has to be a serious illness with a doctor’s note or an event like death in the family. Also, American Express cards usually offer travel perks, such as double reward points to use on hotel and airfares. • Price (or return) protection. If you buy an item and find the same one advertised for a lower price elsewhere within 30 to 60 days, your card might refund the difference. Exclusions could include cars, cell phones, online sales, and purchases on eBay. Plus, most cards let you dispute a purchase if your merchandise isn’t delivered. • Extended warranties. Visa and AmEx cards automatically double the length of any manufacturer’s warranty. You need documentation and some products aren’t covered but it can save you money. See page 2 for more information on extended warranties. Don't forget to check your points! Most credit and debit cards include point incentives you may not even be aware of. Cash in your points before they expire. Read your credit card agreement to find perks you may be missing!