5 Credit Card Perks You Didn’t Know About
Published: October 13, 2016 | Updated: December 10, 2019 | Posted by: Carlo Miguel Castañeda | Car Insurance
If you’ve had a credit card for a while, chances are you know most of the ins and outs of using it. Even then there might be certain perks that you might not readily be aware of.
You already know not to have more than one credit card unless you can handle it, and you do handle it well. Among the dangers associated with the use of a credit card is the thinking that it’s free money, but in the right hands, it’s a great tool to have. There are certain credit card perks you may not be readily aware of, and here are five that you might want to check your card for.
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You’ve seen the expiration date on the front of your card, right? Technically speaking, your card is still valid after that date, but since your provider generally sends you a new card around that time, you think nothing of it.
The date on your card is actually an estimate of its lifespan, meaning that it’s how your provider knows when to send you a new card. It’s also a secondary means of verification for purchases where the merchant cannot see your credit card – so that they know you actually have your card with you.
When something new and shiny comes from a credit card purchase, it can be frustrating when it gets stolen or damaged. Before you heave a sigh and charge a second purchase of the same item to your card, you might want to check if you’re eligible for purchase protection.
Things you’ll want to check for in case you qualify: the item must have been purchased within 90 days, while some credit card networks allow for 120 days. If the item was stolen, you’ll also need a copy of the police report. In either case, you’ll need your credit card statement that reflects the purchase.
You’ll usually be asked whether you want extended warranties on any electronics or appliances you purchase. If you’re paying with a credit card, you can forego it because most credit cards add a year to the manufacturer warranty.
You don’t need to sign up for it, but you’ll want to preserve the receipt from the purchase. If the item needs repairs or replacement outside of the original warranty, you can check if you can file a claim with your network. Note that certain credit card networks do not cover damage due to wear and tear, and some will actually cover refurbished items. It’s also important to know that not all items are covered by this particular warranty extension.
Exclusive Ticket Pre-sales
Want to go see a show? You might want to check your credit card to see if you can book tickets for it way in advance. A number of providers have pre-sale promotions for eligible members before purchases are opened to the general public.
It may not help you get tickets to Hamilton on Broadway (because that’s sold out through 2017, ouch). If you happen to be in the mood for dinner and a show, it helps to know what might be covered by your credit card.
Everything can be negotiated
Competition is tough for credit card providers, and that means that they’ll sometimes cave to a customer’s demands to keep them loyal (and spending). Certain things can be negotiated provided that you’re a customer with a good credit standing.
Your card’s annual fee, your due date, and late fees can be negotiated heavily in your favor. In some cases, annual fees may be waived for a certain amount of time, but again – this can only happen if you’re an exemplary customer.
The best way to find out whether these perks apply to you is to read your credit card agreement, or talk to your provider for an even clearer picture.
Always keep in mind that the conditions and outcomes of these perks will vary between your credit card providers, so always be armed with information.