Happy young woman paying bill with a credit card.

Secret Perks of Your Credit Card You’re Not Using

Most people use credit cards for everyday purchases, building credit, and earning rewards. However, many cardholders are unaware of the hidden perks their cards offer—benefits that could save money, provide protection, and offer exclusive experiences. Let’s take a deep dive into these lesser-known advantages, so you can maximize the value of your credit card.
Young lady finishing shopping in beauty salon.

Purchase Protection: Your Built-in Safety Net

What Is Purchase Protection?

Purchase protection reimburses or replaces items that are stolen or damaged shortly after purchase. This feature can be a lifesaver for expensive electronics, furniture, and other high-ticket items.

How It Works

  • Typically, purchases are covered for 60 to 120 days after the transaction.
  • The cardholder must provide proof of purchase and evidence of the damage or theft.
  • Some policies cover accidental damage, while others only cover theft.

Example in Action

Imagine you buy a brand-new smartphone using your credit card, and a week later, it slips out of your pocket and shatters. Instead of paying out of pocket for a new one, you could file a claim with your credit card issuer and receive reimbursement or a replacement.

Other Hidden Credit Card Perks

Price Protection

Some credit cards offer price protection, refunding you the difference if the price of an item you purchased drops within a specific timeframe.

Extended Warranty

Many credit cards extend the manufacturer’s warranty on eligible products, adding extra coverage for repairs and replacements at no additional cost.

Cell Phone Protection

If you pay your cell phone bill with your credit card, you may be eligible for cell phone insurance, covering theft or damage to your device.

Final Thoughts

Your credit card is more than just a spending tool—it’s packed with valuable benefits that can save you money and provide peace of mind. From purchase protection and travel insurance to concierge services, taking advantage of these perks can enhance your financial well-being and lifestyle.