Credit cards offer those use them quite a few benefits, such as being able to shop online, pre book tickets to concerts and other events, pay for big-ticket items such as televisions and computers to be paid off over time. They offer added security in many ways, and you, the customer, don’t always know these features. They’re not hidden from view, but are usually contained in the terms and conditions within your contract. While some features aren’t available on all cards, many have some of them, or even all of them. They can come in handy, especially if you know you have them in your wallet.

These features include: Price protection, extended warranties, theft and damage, and rental car insurance.

Price Protection

Price protection is a feature that not many people realise exists, or even if they have it on their credit account. This protects you from retailers who put their prices down just after you have made a purchase. For example, if you have bought an item, let’s say a television set for $600, and the next day the price drops down to $500, then taking in the new price to the bank or financial institute will have the charge on your next bill at only $400 for the item. This is a nice feature to have, if you are aware that you have it available to you.

Extended Warranty

When buying some products, you often get a warranty as standard. The warranty, which comes with the item, whatever it is, can vary from store to store, manufacturer to manufacturer. This warranty can often be extended for an extra fee. With some credit cards, however, you are given an extended warranty on your purchases regardless of anything else. This warranty usually lasts for a year on top of whatever the original warranty is. To make a claim, keep your receipt and credit card statement as proof of purchase and date of purchase.

Theft And Damage

Theft and damage is also covered by some banks and financial institutes, and can come in handy in different situations and events. This is usually up to a maximum of $500, or even $10,000 on some premium card services. This can be claimed by showing the proper documentation to your credit provider on purchases made using your card, often a better service than your usual insurance company’s policy. Learn about the Suncorp Credit Cards and Commbank No Fee Credit Card.

Rental Car Insurance

One feature than many people don’t know about is that some cards contain insurance for rental cars. When renting a car, you are often asked to pay for insurance, should you get into an accident. This can add quite a bit on to the cost of the rental. However, should you use your plastic money to pay for this service, then your credit issuer may cover your insurance costs, should an accident take place during your rental period.

If you are wondering about these features, then look through your credit card contract, or phone your bank or financial institute to find out. If you want to know what cards offer these services, then also make a simple phone call.

About the Author

Credit cards are serious business. Make sure to get the best deals. Visit Suncorp Credit Cards and Commbank No Fee Credit Card on CreditCardOffers.com.au