Hidden Savings in Your Credit Cards
As prices continue to rise, it seems many shoppers and travelers might be overlooking potential savings linked to the credit cards they already carry.
“Getting the best value for your money is really important,” notes Angelique Archer, who enjoys a 2% cash back on her purchases.
Shopper Maddie Jagger highlights her Amex Blue Cash Preferred Card, which she uses mainly for grocery shopping to rack up cash back benefits. “You can earn up to 6% cash back on groceries, on the first $6,000 spent,” she explains.
But that’s just scratching the surface.
Hidden Perks That Help You Save
Many people are aware of standard credit card perks like cash back rewards and travel miles, but there are “hidden” benefits that can help save money, especially during the holidays. Anna Staples, a credit card expert at Bankrate, mentions, “Some of the most useful perks are those you might not know about.”
We’ve uncovered some lesser-known travel perks, including:
- Luggage protection
- Priority boarding
- Free checked baggage
- Access to airport lounges
- Trip cancellation or interruption insurance
Additional insurance from your credit card issuer can help cover hotel costs if your flight gets unexpectedly delayed or canceled. “You should check if your card provides this coverage; it can reimburse you for a hotel stay if the airline falls short,” Staples advises.
Shopping Benefits
When it comes to holiday shopping, certain credit cards extend warranties on your purchases as long as the original item is covered. “This is super helpful for pricier items,” Staples adds.
Another benefit worth mentioning is purchase protection, particularly for online orders. If your item is lost or damaged, and the retailer isn’t willing to assist, your credit card issuer might issue a refund, according to Staples.
Maximize Rewards
Credit cards that offer substantial cash-back rewards often come with annual fees, which can range from about $100 to over $500. It’s important for consumers to assess their spending across categories like travel and groceries; otherwise, those fees become pointless. Of course, not all rewards cards charge fees.
To redeem your rewards, you have to use the card that offers them. Staples reminds us that merely owning the card isn’t sufficient, and it’s wise to solve issues directly with retailers or airlines first.
Shopper Judy Reese mentions her strategy, saying, “I use my Discover card for everything and save that cash back for my vacations.”
These hidden perks might just help you save more than you realize.
