Yes, you can charge up a storm on your credit card, but did you know you can also get a bonus of 5 or 10 percent cash back for shopping at certain stores? The November 2012 issue of ShopSmart spotlights seven lesser-known credit-card perks that users may not even know exist, including partner discounts, extra product warranties, additional cash back, price protection and more.
Check out your credit card’s website to see what benefits you may be missing out on, along with any rules and limitations. It might help you save big! Here are three examples of credit-cards benefits shoppers should lookout for. Check out the November issue, on newsstands now, for the rest, plus a look at some good no-annual-fee credit cards.
Extra product warranties. Some issuers automatically extend manufacturer warranties, usually up to a year─ a great perk for expensive items that would be costly to replace. But it usually also applies to cheaper items that you might not know comes with a warranty, such as eyeglasses or coffeemakers.
Coverage for damaged goods. A card with theft, damage, and loss coverage reimburses users for items purchased with it that are lost, stolen, or accidentally damaged within a stated time period, often 90 days. But some cards limit the number of times users can make a claim within a certain time period.
Rental-car coverage and travel insurance. Some issuers will cover any loss to a rental vehicle, up to certain limits. Some cards also offer trip cancellation, which covers losses if the user has to cancel plans, perhaps due to illness or injury. But check card issuers’ rules about what doesn’t qualify and how much can be recouped.