7 Lesser-Known Perks Of Credit Cards

By | April 25, 2024

Reward points, annual fee waivers, spend milestone vouchers and a few others. If you can’t think of any other Credit Card perks, you’re in for a shock at every bullet point.

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A Credit Card is a simple financial tool used for making purchases and building credit. Yes, we hear you, but is that all? Beyond their obvious perks, these nifty little plasticky (at times metallic) things offer a treasure trove of lesser-known benefits, perks, and features that often go unnoticed. In this article, we’ll try our best to unearth some of these hidden gems that can truly up your spending game and bring unexpected value to your wallet. Let’s start!

  • Purchase Protection: You just purchased a high-ticket item. Hyped up to make your own unboxing video, but that’s when you find out you’ve got yourself a damaged product. But all hope is not lost yet. With purchase protection feature on your Credit Card, the cost of repairing or replacing the item is covered for a certain timeframe. Didn’t know such a feature existed, did you?
  • Extended Warranty: Electronics and appliances have a way of malfunctioning right after the manufacturer’s warranty expires. That’s when your Credit Card can come to the rescue. Certain Credit Cards offer extended warranty protection, adding a little extra coverage to the original warranty. Think about the substantial repair or replacement costs that you can save down the line.

Additional Reading: Why Should I Choose a Credit Card to Manage My Finances?

  • Travel Insurance: Though travellers are generally aware of travel discounts and lounge access benefits offered by Credit Cards, they often tend to overlook the comprehensive travel insurance coverage that comes pre-loaded on their Credit Cards. Be it trip cancellation or lost baggage; nothing can unsettle you during your adventures.
  • Price Protection: Made a purchase only to see the price drop shortly afterward? What if we said you can reclaim the difference? All you have to do is check if your Credit Card comes with the price protection feature.  If your card offers this perk, you can submit a claim for a refund of the price difference, thus ensuring you never pay more than necessary.
  • Concierge Services: Who doesn’t like a dash of luxury in their lives? With concierge services on your Credit Card, living life VIP style is so easy. From making a restaurant reservation, booking tickets to a show, or finding the perfect gift, your card’s concierge can assist you with a whole lot of things. Save time and effort without having to pay anything extra for these services.

Additional Reading: Credit Cards for the Uninitiated: A Beginner’s Guide

  • Golf Benefits: Yes, complimentary golf rounds and discounted tee times are a Credit Card perk, but it doesn’t stop at that. Depending on the Credit Card you have, you’ll have access to golf courses across the country and entry to prestigious international golf events. Don’t know much about the sport? Some Credit Cards can get you free golf lessons from professionals.
  • Roadside Assistance: If your car breaks down, your Credit Card may offer roadside assistance. Once you call the number on the back of your card, your provider will call a local tow truck driver for you. Then, you may have to pay for the costs with your Credit Card. However, some cardholders with premium cards do get free roadside assistance. While it may not be the flashiest perk in the world, you might think otherwise if you find yourself stranded on a country road at midnight.

Now that you are aware of these features, don’t assume that all Credit Cards offer all these benefits. That would be a pretty rookie mistake to make. Look into the fine print. Accept the fact there is no perfect Credit Card, do your research, and pick the card that can get you most of the benefits. That’s the way to go.

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