Ruchi Gupta

Save Cash on Your Credit Cards with These Amazing Hidden Perks

Credit cards come with additional perks, perfect for saving money in addition to taking advantage of low-interest rates and rewards. However, most people don’t know these perks exist, even though they are designed for getting the most out of a credit card. While credit cards have been associated with bad debts, you can get the most out of them if you use them responsibly. Every credit card is unique in its own way. It is thus important to read the fine print before signing up for one.

Sign Up Bonuses

Sign Up bonuses is one of the most common additional benefits with most credit cards. Most lenders usually provide bonuses anywhere between $50 and $250 or more, as a way of enticing people to sign up. Some credit cards also come with a large number of reward points that can be redeemed for other things such as cash.

Price Protection

Some credit cards offer protection on large purchases. If you buy an item at one price and then later see, it advertised at a much lower price, by lodging a complaint you may get the price difference refunded. However, the lower priced item must be identical to the one bought. Price protection most of the time is not automatic. The timeframe for lodging a claim ranges from 60 to 90 days, depending on credit and one must have a receipt or credit card statement containing the purchase.

Low Foreign Exchange Transaction Charges

Credit cards come in handy when traveling from one country to another. Instead of carrying cash around, which has to be changed depending on the country, one can take advantage of credit cards low foreign exchange transaction charges. Credit cards offer the best forex rate compared to other available options. Some credit cards charge as lows as 3.5% on transaction charges while some premier cards charge only 2% on foreign transactions.

Free Access to Airport Services

Some high-end credit cards allow users to enjoy premium services at airports and railroad lounges. Some of this service include relaxing at posh lounges. Priority pass that comes with this perk comes at an annual cost of $100 if one is to pay in cash.

Emergency Travel coverage/ Trip Delay/ Cancellation

Lost luggage at airports is a common occurrence. However, with some credit cards, you can be able to call an operator to help them locate a lost luggage. Some credit card providers also have an emergency travel assistance department that one can use to make alternate travel plans. Trip cancellation or trip delay comes into play when one is barred from boarding a plane because of bad weather strikes. One might also be compensated if a travel arrangement is canceled because of a bad experience such as the death of a family member or prolonged illness that make traveling impossible.

Insurance Coverage

Most credit cards offer insurance coverage to consumer protections that people are not aware of. Some of the coverage include rental car insurance, travel insurance and product warranties that exceed manufacturer’s warranty. If you have to cancel a trip, some credit card companies may compensate for any cost incurred on a credit card.