Don’t Miss Out On These Credit Card Perks That Benefit Your Family
Most credit card companies don’t fully advertise their rewards programs. Only the major corporate behemoth credit card companies do so on TV. You might have numerous credit card perks, rewards, and bonus incentives available on your card and not even know it. I had a credit card for over six years before I realized it had some rewards and perks that could benefit me and my family.
In fact, unless such rewards are expressly advertised most people don’t know or inquire about them. About 31% of American credit card holders have never tried to redeem any available rewards. Ever. They may just not know about available rewards. Or, are concerned about dealing with the paperwork and bureaucracy involved in redeeming them.
If you travel and shop a lot, especially on family outings, then you are missing out on a lot of redeemable rewards and perks. Your credit card may be able to offer you numerous benefits that make family spending and travel cheaper, easier, and convenient. If you own a credit card, here are some incredible reward benefits that you should know about.
Price protection is a great reward benefit for those of us who are not discerning enough when it comes to comparison shopping. Have you ever bought a major appliance or large purchase for your home only to find out its being sold for much cheaper elsewhere? It always pays to shop around.
Keep your receipts or an advertisement as proof and your credit card company may be able to reimburse you the difference via price protection. Depending on the credit card company, you may have a 60 or 90-day window to redeem. You may be able to receive a $250 to $1,000 reimbursement for the price difference, per item.
Travel-Related Cancellation Insurance Coverage
What is that saying about the best laid plans in life? If there is any recipe for confusion, mishaps, and unnecessary financial waste, it’s the family vacation. Delays and complete cancellation of a vacation are not uncommon occurrences. If you pay for all of your family vacation expenses with a credit card, like car rental, lodging, and meals for example, your credit card may be able to reimburse you for all delayed or cancellation related costs.
Your credit card may be able to offer you numerous forms of insurance coverage. Like car rental, emergency medical, luggage, dental insurance, and more. Check your credit card statements to know for sure.
Purchase Security Benefits
If you buy something with your credit card and damage it, break it, lose it or have it stolen, your credit card company will reimburse it or repair up to a predetermined amount. Even if the store or vendor you purchased the item from refuses. This coverage has exemptions depending on the credit card, like jewelry, for example.
Lastly, here is one thing to consider, if your credit is not that great, but you want to fast way to improve it, you could consider buying a tradeline. Basically this would be like being added as an authorized user on someones credit. Its a fast way to get your credit improved fast. That said, tradelines do cost money and you’ll also need to be sure you pay all your bills on time to get the best credit score possible.
Beware of Credit Card Reward Deadlines
Of course, redeeming such rewards involves paperwork and bureaucracy. Keep your receipts. Be aware of deadlines for reward redemption. Think of how much money you spend, and waste, on family expenses and trips. If credit cards rewards can help you mitigate such expenses, why not take advantage of them?
Do you use your credit card perks? Share with us in the comments below.