The Most Valuable Credit Card Perks

Close-up of woman paying with blue chip credit cardCredit cards are a staple in the economy, with an estimated 70% of all adult consumers carrying at least one major credit card at any given time. Financial institutions and credit card issuers have designed a wide variety of credit cards with varying rewards, like cash back, travel miles, and retailer-specific points, all to incentive the use of one card over another. Consumers are widely aware of the rewards and loyalty programs that go hand in hand with some credit card offerings, but there are several perks that add to the value of using credit cards for day to day and major expenses. Here are some of the most valuable credit card perks available today.

Entertainment Benefits

Several credit card issuers recognize their users’ love of entertainment, from professional sporting events to live concerts and shows. To make carrying a specific credit card more valuable, some credit card companies offer added perks at no cost, like the ability to buy tickets to highly anticipated entertainment events before the general public. Similarly, some card issuers purchase preferred seating for special events, making them available only to their cardholders. Both American Express and Citi offer rewards credit cards that come with these exclusive benefits.

Discounted (or Free) Attractions

Credit card companies also realize that cardholders like more than a big show every now and again. In recent years, some card issuers have expanded their value-add perks to cardholders by offering discounted or free tickets and passes to local attractions. These may include festivals and fairs, museums, or theme parks, depending on the time of the year and the location of the cardholder. Just like with entertainment perks, cardholders receive this benefit at no additional cost. Bank of America is most widely known for its discounted attractions benefit.

Shopping Benefits

As if the cash back and travel miles rewards programs with most major credit cards weren’t enough, some card companies have partnered with major retailers to offer even more bang for your credit card buck. The simplest perk offered is a discount on online shopping with select stores – when the purchase is made with a certain credit card. Above and beyond shopping discounts, most major credit cards also come with return protection for purchase made with the credit card, along with extended warranties for certain big-ticket or electronic items. Some credit card issuers also offer price protection which allows for a reimbursement directly from the card company if the price on an item has dropped since it was purchased. These benefits can add up to a significant amount of savings for cardholders, and nearly all major credit card issuers offer them at no cost.

Travel Perks

Even if you don’t have a travel-specific credit card, like an airline miles or a hotel loyalty credit card, you may have the opportunity to receive no-cost travel perks from your credit card company. Protections like car rental insurance, luggage insurance, and roadside assistance are offered to many cardholders when travel-related charges are paid for with a specific credit card. Some card issuers also protect against exchange rate fluctuations and trip cancellation insurance for when plans change. The most notable travel perks are available through Chase, Capital One, and Citi.

Paying for purchases with a credit card can reap substantial rewards for cardholders, but most aren’t utilizing their credit cards to the fullest extent. Any extra perks provided by a credit card issuer can be found on its website or in the cardholder agreement, along with any relevant terms and conditions that go hand in hand. Before selecting your next credit card, or deciding whether to put your next purchase on the one in your wallet, be sure to check out the added benefits you get – for free.

Posted on January 17, 2018 by in Credit Cards

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