It is now common knowledge that if a thief steals your credit card and goes shopping, you won’t be held responsible. There’s more protection that your credit card offers you which can be especially helpful in this holiday season. Price matching and extended warranties are a few examples of benefits that come with swiping your card.
The benefits differ based on credit card companies, so it is always advisable to call and find out what specific benefits apply to you. To get all these advantages, you may have to provide receipt copies and other documents but all these steps can typically be completed online. These benefits could even lead to hundreds of dollars in savings so the extra steps involved are definitely worth it.
Most retailers will offer a refund to customers who find out that an item they bought is now on sale days or weeks after they initially bought it. Some retailers will match a price offered by their competition. Some credit card companies do the same, but customers have to provide copies of receipts and ads indicating the price difference. These refunds can go as high as $500 according to cardhub.com, but have to be filed 60 to 90 days of the purchase.
Theft and damage protection
Many credit cars have insurance on damaged or stolen items. Damages include fire, smoke, or water, and include a cover of up to $500 per item and typically a maximum of $50,000 per year. The damage or theft should be 60 to 90 days from date of purchase, according to cardhub.com
Car rental insurance
Visa, MasterCard, American Express, and Discover offer car rental insurance to people who use their cards to pay for the entire cost of a car rental. Some restrictions apply to luxury and antique cars. Some card companies also restrict some SUVs. For people who already have car insurance, the insurance provided by credit card companies can act as a supplement.
Many credit cards offer extended warranties to card users for no additional fees. This protection can kick in after the manufacturer warranty has expired, and can extend for a year or two. If you purchase an item with a manufacturer warranty longer than three years, this item may be excluded from extended warranty.
Some credit card issuers let users send in new or unused items for exchange or refund. Consumers may have to pay the cost of shipping and provide a copy of receipts. Purchases made outside the US may be excluded, or refunds may be limited to $500 maximum per item. Many card companies will not take jewelry, art or cellphones. Refund/exchange claims typically have to be made within 60 to 90 days or purchase.